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

Federated Hermes (NYSE:FHI) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 39.47% from the stock’s current price.

A number of other brokerages have also issued reports on FHI. UBS Group cut their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI reduced their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen dropped their price target on shares of Federated Hermes from $36.00 to $34.00 and set a “hold” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Federated Hermes Trading Up 3.2 %

Shares of FHI stock traded up $1.06 during trading hours on Thursday, hitting $33.70. The company had a trading volume of 579,620 shares, compared to its average volume of 774,058. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. The company’s fifty day moving average is $32.60 and its 200 day moving average is $34.21. The stock has a market capitalization of $2.84 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 1.09 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $396.37 million during the quarter, compared to analyst estimates of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. Research analysts expect that Federated Hermes will post 3.6 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Paul A. Uhlman sold 975 shares of Federated Hermes stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the completion of the sale, the vice president now directly owns 299,572 shares of the company’s stock, valued at approximately $9,885,876. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Paul A. Uhlman sold 975 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total transaction of $32,175.00. Following the sale, the vice president now owns 299,572 shares of the company’s stock, valued at approximately $9,885,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul A. Uhlman sold 994 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently bought and sold shares of FHI. Fifth Third Bancorp raised its stake in Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after acquiring an additional 307 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Federated Hermes by 216.4% during the fourth 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. Signaturefd LLC lifted its holdings in shares of Federated Hermes by 65.7% during the fourth quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $47,000 after purchasing an additional 548 shares during the period. Finally, Mather Group LLC. purchased a new position in Federated Hermes in the 2nd quarter valued at $47,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.