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

Federated Hermes (NYSE:FHI - Get Free Report) had its price objective boosted by investment 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 currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 13.61% from the company's current price.

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

Federated Hermes Stock Performance

Shares of FHI traded up $0.40 during midday trading on Wednesday, reaching $46.30. 438,742 shares of the stock were exchanged, compared to its average volume of 736,282. The business's 50-day moving average price is $43.06 and its 200 day moving average price is $40.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.04 and a quick ratio of 2.35. Federated Hermes has a twelve month low of $31.94 and a twelve month high of $46.84. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.86 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last posted 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. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The business had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business's revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Federated Hermes will post 4.04 EPS for the current fiscal year.

Insider Transactions at Federated Hermes

In other Federated Hermes 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 transaction, the vice president owned 316,930 shares in the company, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Federated Hermes by 249.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock worth $130,446,000 after acquiring an additional 2,284,509 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Federated Hermes during the 1st quarter worth approximately $14,048,000. Invenomic Capital Management LP purchased a new stake in shares of Federated Hermes during the 1st quarter worth approximately $11,696,000. LSV Asset Management boosted its stake in shares of Federated Hermes by 48.2% during the 4th quarter. LSV Asset Management now owns 870,776 shares of the company's stock worth $35,798,000 after acquiring an additional 283,300 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Federated Hermes by 51.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after acquiring an additional 278,524 shares in the last quarter. Institutional investors and hedge funds 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.