Federated Hermes (NYSE:FHI) PT Raised to $47.00 at JPMorgan Chase & Co.

Federated Hermes (NYSE:FHI) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 33.98% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. TD Cowen initiated coverage on Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Finally, UBS Group boosted their price objective on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Federated Hermes Stock Down 0.4 %

FHI stock opened at $35.08 on Wednesday. The business’s 50-day moving average is $35.68 and its two-hundred day moving average is $34.04. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $45.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.84 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last announced its earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. The business had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, analysts forecast that Federated Hermes will post 3.73 earnings per share for the current year.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the transaction, the chief executive officer now owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the transaction, the chief executive officer now owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard A. Novak sold 908 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now directly owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,435 shares of company stock valued at $4,092,831. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently made changes to their positions in FHI. Fifth Third Bancorp boosted its holdings in Federated Hermes by 71.1% in the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after acquiring an additional 307 shares in the last quarter. Signaturefd LLC boosted its stake in Federated Hermes by 69.9% in the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Quarry LP acquired a new stake in Federated Hermes in the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC grew its position in Federated Hermes by 216.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after purchasing an additional 712 shares during the last quarter. Finally, Neo Ivy Capital Management increased its stake in Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock valued at $48,000 after purchasing an additional 1,224 shares in the last quarter. Hedge funds and other 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.