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

Federated Hermes (NYSE:FHI) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 34.44% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. UBS Group lifted their target price on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, TD Cowen assumed coverage on Federated Hermes in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price for the company. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Federated Hermes Stock Performance

NYSE:FHI opened at $34.96 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $44.29. The stock’s 50 day simple moving average is $35.68 and its two-hundred day simple moving average is $34.05. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.84 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last released 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. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The business had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. During the same quarter in the previous year, the company posted $0.90 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Federated Hermes will post 3.73 earnings per share for the current fiscal year.

Insider Activity at Federated Hermes

In related news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the transaction, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Paul A. Uhlman sold 13,820 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now owns 276,084 shares of the company’s stock, valued at approximately $9,994,240.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total value of $3,199,668.70. Following the transaction, the vice president now directly owns 289,904 shares in the company, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. Insiders sold a total of 115,435 shares of company stock worth $4,092,831 in the last quarter. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Federated Hermes by 69.9% during the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after purchasing an additional 343 shares during the last quarter. Quarry LP purchased a new stake in shares of Federated Hermes during the 2nd quarter worth $29,000. Hexagon Capital Partners LLC lifted its stake in shares of Federated Hermes by 216.4% during the 4th 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. Finally, Neo Ivy Capital Management lifted its stake in shares of Federated Hermes by 637.5% during the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after purchasing an additional 1,224 shares during the last quarter. Institutional investors 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.