JPMorgan Chase & Co. Boosts Federated Hermes (NYSE:FHI) Price Target to $55.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Federated Hermes (NYSE:FHI) from $54.00 to $55.00, indicating a potential upside of 4.26% from the current price.
• Recent analyst ratings show a mix of "buy," "hold," and "sector perform" ratings, with a consensus rating of "Hold" and a target price of $48.33.
• Shares of Federated Hermes recently traded at $52.75, reflecting a positive 5.5% year-over-year revenue growth.

Federated Hermes (NYSE:FHI - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $54.00 to $55.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 4.26% from the company's current price.

A number of other analysts also recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Federated Hermes in a report on Saturday, September 27th. Royal Bank Of Canada increased their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. Wall Street Zen downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Zacks Research downgraded Federated Hermes from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Finally, Evercore ISI increased their price target on Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Federated Hermes presently has a consensus rating of "Hold" and a consensus target price of $48.33.

Federated Hermes Price Performance

Shares of NYSE:FHI traded up $0.79 during trading on Tuesday, hitting $52.75. 53,451 shares of the company were exchanged, compared to its average volume of 787,111. The business's 50 day moving average is $52.31 and its 200-day moving average is $45.74. The company has a market capitalization of $4.09 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.69 and a beta of 0.80. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. Federated Hermes has a 1-year low of $35.05 and a 1-year high of $54.42.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.17. The company had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Equities analysts forecast that Federated Hermes will post 4.04 earnings per share for the current year.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Federated Hermes by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,524 shares of the company's stock worth $131,000 after purchasing an additional 241 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Federated Hermes by 22.3% in the 2nd quarter. Corient Private Wealth LLC now owns 72,312 shares of the company's stock worth $3,205,000 after purchasing an additional 13,185 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of Federated Hermes by 36.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 53,343 shares of the company's stock worth $2,364,000 after purchasing an additional 14,123 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Federated Hermes by 1,480.5% in the 2nd quarter. Osaic Holdings Inc. now owns 16,817 shares of the company's stock worth $745,000 after purchasing an additional 15,753 shares during the period. Finally, Cim Investment Management Inc. raised its holdings in shares of Federated Hermes by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 14,004 shares of the company's stock worth $598,000 after purchasing an additional 7,028 shares during the period. Hedge funds and other 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.

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