Federated Hermes (NYSE:FHI) Stock Gets Price Target Trim from TD Cowen

Key Points

• TD Cowen lowered Federated Hermes’ price target to $56 from $60 and maintained a “hold” rating, implying roughly 0.6% downside from the previous close.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $57.80.
• Federated Hermes reported stronger-than-expected quarterly results, posting $1.38 in EPS and $502.78 million in revenue, while revenue increased 18.3% year over year.

Federated Hermes (NYSE:FHI - Get Free Report) had its price target dropped by TD Cowen from $60.00 to $56.00 in a report released on Monday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. TD Cowen's target price points to a potential downside of 0.58% from the company's previous close.

Several other equities analysts have also recently issued reports on FHI. Royal Bank Of Canada boosted their target price on Federated Hermes from $54.00 to $57.00 and gave the company a "sector perform" rating in a research note on Thursday, July 2nd. Weiss Ratings raised Federated Hermes from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday. Evercore reiterated an "outperform" rating and issued a $65.00 price target on shares of Federated Hermes in a report on Monday, August 10th. Zacks Research upgraded shares of Federated Hermes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Federated Hermes presently has an average rating of "Moderate Buy" and an average price target of $57.80.

Federated Hermes Trading Down 0.3%

Shares of NYSE FHI traded down $0.20 during trading hours on Monday, hitting $56.33. The company's stock had a trading volume of 170,696 shares, compared to its average volume of 700,554. Federated Hermes has a 12 month low of $46.66 and a 12 month high of $67.20. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 1.49 and a beta of 0.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.89 and a current ratio of 2.59. The business has a 50-day simple moving average of $60.74 and a 200-day simple moving average of $58.37.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%. The business had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. During the same quarter in the prior year, the company posted $1.16 EPS. Federated Hermes's quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that Federated Hermes will post 5.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FHI. First Trust Advisors LP increased its position in Federated Hermes by 5.6% during the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company's stock valued at $34,967,000 after buying an additional 32,810 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Federated Hermes by 6.2% during the first quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company's stock valued at $27,546,000 after buying an additional 28,278 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Federated Hermes by 34.6% in the first quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company's stock worth $19,130,000 after acquiring an additional 86,658 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Federated Hermes by 3.9% in the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company's stock worth $9,240,000 after acquiring an additional 6,045 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Federated Hermes by 255.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 144,671 shares of the company's stock worth $8,204,000 after acquiring an additional 104,017 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.

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