Federated Hermes (NYSE:FHI) Receives “Neutral” Rating from JPMorgan Chase & Co.

Federated Hermes (NYSE:FHI)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $42.00 target price on the stock, down from their prior target price of $49.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.45% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Evercore ISI lifted their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Finally, UBS Group boosted their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Federated Hermes Stock Down 1.2 %

FHI opened at $40.60 on Tuesday. The business’s fifty day simple moving average is $41.68 and its 200 day simple moving average is $37.23. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.32 billion, a PE ratio of 13.05, a P/E/G ratio of 1.19 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, research analysts expect that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the transaction, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,280 shares of company stock valued at $1,185,871 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FHI. Los Angeles Capital Management LLC purchased a new stake in shares of Federated Hermes during the 2nd quarter valued at about $206,000. Acadian Asset Management LLC raised its position in Federated Hermes by 23.3% in the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock worth $111,000 after acquiring an additional 643 shares during the period. LSV Asset Management bought a new position in Federated Hermes in the second quarter worth approximately $11,913,000. Headlands Technologies LLC boosted its stake in shares of Federated Hermes by 134.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock worth $64,000 after acquiring an additional 1,117 shares during the last quarter. Finally, Factorial Partners LLC bought a new stake in shares of Federated Hermes during the 2nd quarter valued at $4,726,000. 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.