Federated Hermes’ (FHI) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Federated Hermes (NYSE:FHI) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage currently has a $42.00 target price on the stock, down from their previous target price of $49.00.

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

Federated Hermes Price Performance

Shares of FHI stock opened at $39.32 on Tuesday. The business’s fifty day moving average is $41.64 and its 200 day moving average is $37.31. 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 $3.22 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.19 and a beta of 1.16. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92.

Federated Hermes (NYSE:FHI) last released 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. 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 the consensus estimate of $410.26 million. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. Research analysts expect that Federated Hermes will post 3.88 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s dividend payout ratio (DPR) is 39.87%.

Insider Buying and Selling at Federated Hermes

In related news, insider Richard A. Novak sold 1,363 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now owns 53,837 shares in the company, valued at $2,232,620.39. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,280 shares of company stock worth $1,185,871. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Federated Hermes by 49.0% in 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 period. Neo Ivy Capital Management purchased a new stake in Federated Hermes during the third quarter valued at approximately $60,000. Headlands Technologies LLC raised its position in Federated Hermes by 134.9% in the second 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 period. CWM LLC boosted its stake in shares of Federated Hermes by 74.7% during the 3rd quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Federated Hermes by 23.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after acquiring an additional 643 shares during the period. 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.