TD Cowen Upgrades Federated Hermes (NYSE:FHI) to Buy

Federated Hermes (NYSE:FHI) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat reports. The brokerage currently has a $46.00 price objective on the stock, up from their previous price objective of $35.00. TD Cowen’s target price indicates a potential upside of 15.84% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Evercore ISI boosted their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group boosted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Federated Hermes Stock Down 0.4 %

Shares of Federated Hermes stock opened at $39.71 on Monday. The firm’s 50 day moving average price is $36.08 and its 200-day moving average price is $34.24. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. Federated Hermes has a 52-week low of $30.98 and a 52-week high of $40.36. The company has a market cap of $3.28 billion, a P/E ratio of 11.28, a PEG ratio of 1.18 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, sell-side analysts predict that Federated Hermes will post 3.68 EPS for the current fiscal year.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

A number of hedge funds have recently added to or reduced their stakes in FHI. Hexagon Capital Partners LLC boosted its holdings in Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Federated Hermes during the first quarter worth $1,542,000. BNP Paribas Financial Markets boosted its holdings in Federated Hermes by 69.3% during the first quarter. BNP Paribas Financial Markets now owns 36,615 shares of the company’s stock worth $1,323,000 after buying an additional 14,987 shares in the last quarter. Capstone Investment Advisors LLC boosted its holdings in Federated Hermes by 11.4% during the first quarter. Capstone Investment Advisors LLC now owns 14,151 shares of the company’s stock worth $511,000 after buying an additional 1,449 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC purchased a new stake in Federated Hermes during the first quarter worth $206,000. 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.