Evercore ISI Raises Federated Hermes (NYSE:FHI) Price Target to $48.00

Key Points

• Evercore ISI has raised the price target for Federated Hermes (NYSE:FHI) from $46.00 to $48.00, maintaining an "outperform" rating, despite indicating a potential downside from the current stock price.
• Recent ratings from other analysts include a downgrade from a "strong-buy" to "buy" by Wall Street Zen and from "buy" to "hold" by TD Cowen, while JPMorgan Chase upgraded it to "neutral" with a price target increase to $54.00.
• Federated Hermes recently reported an earnings per share (EPS) of $1.16 for the last quarter, exceeding estimates and marking a 5.5% year-over-year revenue growth.

Federated Hermes (NYSE:FHI - Get Free Report) had its target price boosted by equities research analysts at Evercore ISI from $46.00 to $48.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price target would suggest a potential downside of 5.47% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada increased their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $40.00 to $54.00 in a research report on Monday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.00.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded up $1.55 during trading on Monday, hitting $50.78. 293,616 shares of the company were exchanged, compared to its average volume of 832,098. The company has a market cap of $4.02 billion, a PE ratio of 11.26, a P/E/G ratio of 0.91 and a beta of 0.77. The stock has a 50 day moving average of $44.81 and a 200 day moving average of $41.29. Federated Hermes has a 52-week low of $31.94 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.35.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities research analysts predict that Federated Hermes will post 4.04 EPS for the current year.

Insider Activity

In related news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president owned 316,930 shares of the company's stock, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after acquiring an additional 614 shares during the last quarter. Quarry LP bought a new position in Federated Hermes in the fourth quarter valued at $37,000. AdvisorNet Financial Inc bought a new position in Federated Hermes in the second quarter valued at $44,000. Northwestern Mutual Wealth Management Co. increased its stake in Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock valued at $63,000 after acquiring an additional 287 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in Federated Hermes in the first quarter valued at $72,000. Institutional investors own 75.94% of the company's stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.

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