Federated Hermes (NYSE:FHI) Given “Underweight” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of Federated Hermes (NYSE:FHI) in a research note published on Wednesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $41.00 price objective on the stock, down from their prior price objective of $42.00.

FHI has been the subject of several other reports. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Royal Bank of Canada decreased their price objective on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Evercore ISI lifted their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price objective on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Federated Hermes has an average rating of “Hold” and a consensus price target of $42.00.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $38.79 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $40.43 and its two-hundred day simple moving average is $38.08. Federated Hermes has a 1-year low of $31.24 and a 1-year high of $43.92. The stock has a market cap of $3.17 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, analysts forecast that Federated Hermes will post 4.14 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, February 7th. Federated Hermes’s payout ratio is presently 38.87%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the transaction, the vice president now owns 310,767 shares of the company’s stock, valued at $12,862,646.13. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the transaction, the insider now directly owns 53,837 shares of the company’s stock, valued at $2,232,620.39. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,128 shares of company stock valued at $502,042 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of large investors have recently modified their holdings of FHI. GAMMA Investing LLC boosted its position in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares during the last quarter. R Squared Ltd bought a new stake in shares of Federated Hermes during the 4th quarter valued at about $43,000. Sound Income Strategies LLC bought a new stake in shares of Federated Hermes during the 4th quarter valued at about $53,000. Neo Ivy Capital Management bought a new stake in shares of Federated Hermes during the 3rd quarter valued at about $60,000. Finally, CWM LLC boosted its position in shares of Federated Hermes by 74.7% during 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 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.