JPMorgan Chase & Co. Reiterates Neutral Rating for Federated Hermes (NYSE:FHI)

Federated Hermes (NYSE:FHI)‘s stock had its “neutral” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a report issued on Tuesday, MarketBeat reports. They currently have a $42.00 price target on the stock, down from their previous price target of $49.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.82% from the company’s previous close.

Several other research firms also recently weighed in on FHI. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada increased their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $46.00 in a report on Monday, October 28th. Finally, UBS Group increased their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Price Performance

FHI opened at $39.32 on Tuesday. The business has a fifty day moving average of $41.65 and a 200 day moving average of $37.30. The stock has a market cap of $3.22 billion, a P/E ratio of 12.64, a PEG ratio of 1.19 and a beta of 1.15. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92.

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

Insider Buying and Selling at Federated Hermes

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

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Federated Hermes during the third quarter valued at $60,000. Headlands Technologies LLC increased its position in shares of Federated Hermes by 134.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after acquiring an additional 1,117 shares during the period. CWM LLC increased its position in shares of Federated Hermes by 74.7% in the 3rd quarter. CWM LLC now owns 2,523 shares of the company’s stock valued at $93,000 after acquiring an additional 1,079 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Federated Hermes in the 3rd quarter worth $113,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Federated Hermes

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.