UBS Group Increases Federated Hermes (NYSE:FHI) Price Target to $40.00

Federated Hermes (NYSE:FHI) had its price target upped by UBS Group from $36.00 to $40.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 5.19% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Evercore ISI increased their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. TD Cowen lowered their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

Federated Hermes Stock Down 0.4 %

Shares of FHI opened at $38.03 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $39.03. The business’s 50 day simple moving average is $35.63 and its 200-day simple moving average is $34.18.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Federated Hermes’s revenue was down 7.1% on a year-over-year basis. As a group, equities analysts expect that Federated Hermes will post 3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Federated Hermes by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company’s stock valued at $309,826,000 after acquiring an additional 45,214 shares in the last quarter. AQR Capital Management LLC increased its holdings in Federated Hermes by 88.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock worth $87,866,000 after purchasing an additional 1,261,097 shares during the period. Assenagon Asset Management S.A. raised its position in Federated Hermes by 39.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Federated Hermes by 1.1% in the 2nd quarter. Millennium Management LLC now owns 969,844 shares of the company’s stock worth $31,888,000 after buying an additional 10,552 shares during the period. Finally, Interval Partners LP grew its position in shares of Federated Hermes by 60.4% during the 1st quarter. Interval Partners LP now owns 409,854 shares of the company’s stock worth $14,804,000 after buying an additional 154,370 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

About Federated Hermes

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.