The stock of Federated Hermes Inc (NYSE:FHI) last traded at $31.59, up 0.38% from the previous session.
Data from the available sources indicates that Federated Hermes Inc (NYSE:FHI) is covered by 9 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $34.00, we find $37.00. Given the previous closing price of $31.47, this indicates a potential upside of 17.57 percent. FHI stock price is now -4.29% away from the 50-day moving average and -13.14% away from the 200-day moving average. The market capitalization of the company currently stands at $2.72B.
In total, 4 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $37.86 as their price target over the next twelve months.
With the price target enhanced from $35 to $47, JP Morgan Upgraded its rating from Underweight to Overweight for Federated Hermes Inc (NYSE: FHI).
In other news, Nusseibeh Saker Anwar, CEO, Hermes Fund Managers Ltd. sold 2,642 shares of the company’s stock on Nov 21. The stock was sold for $83,885 at an average price of $31.75. Upon completion of the transaction, the CEO, Hermes Fund Managers Ltd. now directly owns 186,478 shares in the company, valued at $5.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 20, Vice President FISHER JOHN B sold 7,622 shares of the business’s stock. A total of $243,246 was realized by selling the stock at an average price of $31.91. This leaves the insider owning 522,400 shares of the company worth $16.5 million. Insiders disposed of 1,533,697 shares of company stock worth roughly $48.45 million over the past 1 year. A total of 4.10% of the company’s stock is owned by insiders.
During the past 12 months, Federated Hermes Inc has had a low of $30.23 and a high of $45.55. According to the stock market information, the enterprise value for the company is $2.63B, which is based on a 10.26 price-to-earnings ratio, a 0.71 price-to-earnings-growth ratio, and a beta of 1.04. The fifty day moving average price for FHI is $33.01 and a two-hundred day moving average price translates $36.37 for the stock.
The latest earnings results from Federated Hermes Inc (NYSE: FHI) was released for Sep, 2023. According to the Asset Management Company, earnings per share came in at $0.86, beating analysts’ expectations of $0.83 by 0.03. This compares to $0.78 EPS in the same period last year. The net profit margin was 16.35% and return on equity was 25.12% for FHI. The company reported revenue of $402.66 million for the quarter, compared to $381.14 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.64 percent. For the current quarter, analysts expect FHI to generate $395.1M in revenue.
Federated Hermes Inc(FHI) 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. Through its subsidiaries, it manages separate client-focused equity, fixed income, balanced and money market mutual funds along with separate client-focused equity, fixed income, money market, and balanced portfolios. Through its subsidiaries, the firm invests in the public equity and fixed income markets across the globe. It invests in growth and value stocks of small-cap, mid-cap, and large-cap companies. The firm makes its fixed income investments in ultra-short, short-term, and intermediate-term mortgage-backed, U.S. Government, U.S. corporate, high yield, and municipal securities. It employs both fundamental and quantitative analysis to make its equity investments. Federated Hermes, Inc. was founded in 1955 and is based in Pittsburgh, Pennsylvania with additional offices in New York City and London, United Kingdom.
