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

Federated Hermes (NYSE:FHI) had its target price increased by JPMorgan Chase & Co. from $46.00 to $47.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on FHI. TD Cowen started coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They set a market perform rating and a $32.00 target price for the company. Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the company a sector perform rating in a research note on Monday, January 29th. Finally, UBS Group increased their price objective on shares of 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 stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $38.50.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $35.08 on Wednesday. The firm has a fifty day moving average price of $35.68 and a 200-day moving average price of $34.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The stock has a market cap of $2.96 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $45.55.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The firm 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 company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. Equities analysts anticipate that Federated Hermes will post 3.73 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.19%. Federated Hermes’s dividend payout ratio (DPR) is presently 32.84%.

Insider Transactions at Federated Hermes

In other news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the transaction, the insider now owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Meter Stephen Van sold 1,660 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now directly owns 31,689 shares in the company, valued at approximately $1,145,557.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,435 shares of company stock worth $4,092,831. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Federated Hermes by 71.1% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing 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 during the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC lifted its stake in Federated Hermes by 216.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock valued at $35,000 after acquiring an additional 712 shares during the period. Finally, Neo Ivy Capital Management lifted 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 acquiring an additional 1,224 shares during the period. 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.