JPMorgan Chase & Co. Increases Federated Hermes (NYSE:FHI) Price Target to $47.00

Federated Hermes (NYSE:FHI - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 34.44% from the stock's current price.

Several other equities research analysts have also commented on FHI. UBS Group boosted their price target on Federated Hermes from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, April 12th. TD Cowen began coverage on Federated Hermes in a research note on Thursday, January 4th. They issued a "market perform" rating and a $32.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Federated Hermes from $36.00 to $37.00 and gave the company a "sector perform" rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Federated Hermes Stock Performance

NYSE FHI traded down $0.12 on Wednesday, hitting $34.96. 466,619 shares of the company's stock were exchanged, compared to its average volume of 747,256. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The firm's 50-day moving average price is $35.68 and its two-hundred day moving average price is $34.05. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $44.29. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.84 and a beta of 1.12.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.84 by $0.12. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. On average, research analysts expect that Federated Hermes will post 3.73 EPS for the current year.

Insider Buying and Selling at Federated Hermes

In other news, VP Meter Stephen Van sold 1,660 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the sale, the vice president now directly owns 31,689 shares in the company, valued at approximately $1,145,557.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Meter Stephen Van sold 1,660 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the sale, the vice president now directly owns 31,689 shares in the company, valued at approximately $1,145,557.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the sale, the chief executive officer now owns 178,176 shares of the company's stock, valued at $6,441,062.40. The disclosure for this sale can be found here. In the last three months, insiders sold 115,435 shares of company stock worth $4,092,831. Insiders own 3.70% of the company's stock.

Institutional Trading of Federated Hermes

Several large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its holdings in Federated Hermes by 30.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company's stock valued at $49,000 after purchasing an additional 317 shares in the last quarter. Alpha Omega Wealth Management LLC increased its holdings in Federated Hermes by 1.2% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 109,812 shares of the company's stock valued at $3,966,000 after purchasing an additional 1,289 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in Federated Hermes in the 1st quarter valued at $76,000. Janiczek Wealth Management LLC increased its holdings in Federated Hermes by 74.9% in the 1st quarter. Janiczek Wealth Management LLC now owns 6,804 shares of the company's stock valued at $246,000 after purchasing an additional 2,913 shares in the last quarter. Finally, DGS Capital Management LLC increased its holdings in Federated Hermes by 83.3% in the 1st quarter. DGS Capital Management LLC now owns 16,972 shares of the company's stock valued at $613,000 after purchasing an additional 7,714 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.