Federated Hermes (NYSE:FHI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Federated Hermes (NYSE:FHI - Get Free Report) had its target price hoisted by research 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 brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 12.68% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Evercore ISI upped their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. TD Cowen downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada increased their price objective on shares of Federated Hermes from $37.00 to $43.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. One research 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $42.17.

Federated Hermes Trading Up 0.7%

FHI stock traded up $0.30 during mid-day trading on Wednesday, reaching $45.81. The company had a trading volume of 554,562 shares, compared to its average volume of 734,174. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.04 and a quick ratio of 2.35. The company has a market capitalization of $3.62 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.86 and a beta of 0.78. The firm has a 50 day moving average of $42.84 and a 200 day moving average of $40.31. Federated Hermes has a 12 month low of $31.94 and a 12 month high of $46.56.

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, topping analysts' consensus estimates of $0.91 by $0.19. The business had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities analysts predict that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,057 shares of the 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 sale, the vice president owned 316,930 shares of the company's stock, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently bought and sold shares of FHI. Charles Schwab Investment Management Inc. lifted its position in Federated Hermes by 249.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock valued at $130,446,000 after acquiring an additional 2,284,509 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Federated Hermes in the first quarter worth $14,048,000. Invenomic Capital Management LP purchased a new position in shares of Federated Hermes in the first quarter worth $11,696,000. LSV Asset Management raised its holdings in shares of Federated Hermes by 48.2% in the fourth quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after buying an additional 283,300 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Federated Hermes by 51.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after buying an additional 278,524 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.