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

Federated Hermes (NYSE:FHI) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 38.60% from the stock’s previous close.

A number of other research analysts also recently commented on the company. TD Cowen lowered their target price on Federated Hermes from $36.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 8th. UBS Group lowered their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Evercore ISI lowered their price target on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Federated Hermes Stock Up 0.6 %

NYSE FHI opened at $33.91 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39. The company has a market capitalization of $2.85 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.10 and a beta of 1.17. Federated Hermes has a one year low of $30.23 and a one year high of $37.31. The stock has a 50 day moving average price of $32.64 and a 200-day moving average price of $34.20.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. The firm had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities analysts predict that Federated Hermes will post 3.6 EPS for the current fiscal year.

Insider Transactions at Federated Hermes

In other news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the sale, the vice president now directly owns 298,578 shares in the company, valued at $9,384,306.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the transaction, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul A. Uhlman sold 975 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total value of $32,175.00. Following the transaction, the vice president now owns 299,572 shares in the company, valued at approximately $9,885,876. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after buying an additional 307 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after buying an additional 317 shares during the period. Allianz Asset Management GmbH grew its stake in Federated Hermes by 0.4% in the fourth quarter. Allianz Asset Management GmbH now owns 99,068 shares of the company’s stock valued at $3,354,000 after purchasing an additional 366 shares during the last quarter. Parallel Advisors LLC grew its stake in Federated Hermes by 23.4% in the fourth quarter. Parallel Advisors LLC now owns 2,187 shares of the company’s stock valued at $74,000 after purchasing an additional 414 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Federated Hermes by 23.0% in the fourth quarter. Blue Trust Inc. now owns 2,708 shares of the company’s stock valued at $92,000 after purchasing an additional 507 shares during the last quarter. Hedge funds and other 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.