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

Federated Hermes (NYSE:FHI - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 14.13% from the stock's current price.

Other research analysts also recently issued research reports about the stock. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. Royal Bank Of Canada upped their target price on shares of Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI upped their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Federated Hermes presently has a consensus rating of "Hold" and a consensus target price of $42.50.

Federated Hermes Stock Performance

Federated Hermes stock traded up $0.68 on Wednesday, hitting $46.58. The company's stock had a trading volume of 131,000 shares, compared to its average volume of 733,137. The firm has a market cap of $3.68 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 0.85 and a beta of 0.78. 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 company has a fifty day moving average price of $42.95 and a 200-day moving average price of $40.35. Federated Hermes has a one year low of $31.94 and a one year high of $46.84.

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

Insider Transactions at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president directly owned 316,930 shares of the company's stock, valued at $13,355,430.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Federated Hermes

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in shares of Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after acquiring an additional 614 shares in the last quarter. Quarry LP bought a new position in shares of Federated Hermes during the 4th quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after acquiring an additional 287 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Federated Hermes during the 1st quarter worth approximately $72,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Federated Hermes during the 4th quarter worth approximately $73,000. 75.94% of the stock is owned by institutional investors.

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.