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

Federated Hermes (NYSE:FHI) had its price target hoisted by analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 33.98% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. 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. UBS Group boosted their price target on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, TD Cowen started coverage on Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Federated Hermes Price Performance

Federated Hermes stock opened at $35.08 on Wednesday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 10.29, a PEG ratio of 0.84 and a beta of 1.12. The business has a 50-day moving average of $35.68 and a 200-day moving average of $34.04. The company has a current ratio of 2.51, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $45.55.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The company had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. During the same quarter last year, the firm posted $0.90 earnings per share. Federated Hermes’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Federated Hermes will post 3.73 EPS for the current year.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares in the company, valued at approximately $6,441,062.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of Federated Hermes stock in a transaction dated 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 directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul A. Uhlman sold 90,745 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now directly owns 289,904 shares in the company, valued at $10,222,015.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,435 shares of company stock worth $4,092,831. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after acquiring an additional 466,504 shares in the last quarter. Vanguard Group Inc. grew its position in Federated Hermes by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company’s stock valued at $314,407,000 after purchasing an additional 73,168 shares during the period. FMR LLC grew its position in Federated Hermes by 12.6% in the 3rd quarter. FMR LLC now owns 5,033,058 shares of the company’s stock valued at $170,470,000 after purchasing an additional 562,232 shares during the period. Schneider Downs Wealth Management Advisors LP increased its stake in Federated Hermes by 0.9% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company’s stock valued at $107,453,000 after purchasing an additional 27,321 shares in the last quarter. Finally, State Street Corp raised its holdings in Federated Hermes by 0.8% during the first quarter. State Street Corp now owns 2,898,040 shares of the company’s stock worth $116,327,000 after buying an additional 24,211 shares during the last quarter. 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.