JPMorgan Chase & Co. Boosts Federated Hermes (NYSE:FHI) Price Target to $40.00

Federated Hermes (NYSE:FHI - Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 13.31% from the company's current price.

A number of other brokerages also recently commented on FHI. Royal Bank Of Canada lifted their target price on Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Evercore ISI boosted their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $42.50.

Federated Hermes Stock Performance

FHI stock traded down $0.18 during midday trading on Wednesday, reaching $46.14. The company had a trading volume of 345,531 shares, compared to its average volume of 736,390. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $43.14 and a 200 day moving average price of $40.42. Federated Hermes has a fifty-two week low of $31.94 and a fifty-two week high of $46.84. The firm has a market capitalization of $3.65 billion, a PE ratio of 13.00, a P/E/G ratio of 0.85 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. During the same period in the previous year, the firm posted $0.89 earnings per share. Federated Hermes's quarterly revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Federated Hermes will post 4.04 earnings per share for the current year.

Insider Activity

In related news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the sale, the vice president owned 316,930 shares of the company's stock, valued at $13,355,430.20. The trade was a 1.88% 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. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FHI. Farther Finance Advisors LLC raised its holdings in Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares in the last quarter. Quarry LP bought a new stake in Federated Hermes during the fourth quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. raised its holdings in Federated Hermes by 22.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after purchasing an additional 287 shares in the last quarter. Virtus Advisers LLC bought a new stake in Federated Hermes during the first quarter worth approximately $72,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Federated Hermes during the fourth quarter worth approximately $73,000. 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.