Federated Hermes (NYSE:FHI) Price Target Raised to $40.00

Federated Hermes (NYSE:FHI - Get Free Report) had its price objective lifted by analysts at JPMorgan Chase & Co. from $39.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 13.31% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. TD Cowen cut 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 research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $42.50.

Federated Hermes Price Performance

FHI stock traded down $0.18 during mid-day trading on Wednesday, hitting $46.14. The company had a trading volume of 345,531 shares, compared to its average volume of 734,725. The company has a 50-day moving average price of $43.06 and a 200 day moving average price of $40.39. 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 market capitalization of $3.65 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.86 and a beta of 0.78. Federated Hermes has a 12-month low of $31.94 and a 12-month high of $46.84.

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

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president directly owned 316,930 shares in the company, valued at approximately $13,355,430.20. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Federated Hermes

Several hedge funds have recently added to or reduced their stakes in FHI. Jones Financial Companies Lllp grew its stake in Federated Hermes by 112.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock worth $109,000 after acquiring an additional 1,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Federated Hermes by 19.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after acquiring an additional 145,878 shares in the last quarter. Raymond James Financial Inc. bought a new position in Federated Hermes in the 4th quarter worth about $3,367,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Federated Hermes by 24.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,666 shares of the company's stock worth $850,000 after acquiring an additional 4,028 shares in the last quarter. Finally, Moran Wealth Management LLC grew its stake in Federated Hermes by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 72,427 shares of the company's stock worth $2,977,000 after acquiring an additional 1,870 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

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.