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

Federated Hermes (NYSE:FHI) had its price objective boosted by JPMorgan Chase & Co. from $46.00 to $47.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a sector perform rating in a research report on Monday, January 29th. TD Cowen assumed coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They issued a market perform rating and a $32.00 price target on the stock. Finally, UBS Group boosted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $38.50.

Federated Hermes Stock Up 0.9 %

NYSE:FHI opened at $35.29 on Wednesday. The firm’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $34.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. Federated Hermes has a one year low of $30.23 and a one year high of $43.64. The company has a market cap of $2.98 billion, a PE ratio of 10.35, a P/E/G ratio of 0.83 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last posted its 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. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The business had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Federated Hermes will post 3.73 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.17%. Federated Hermes’s dividend payout ratio is currently 32.84%.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock worth $4,092,831 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Federated Hermes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its stake in Federated Hermes by 0.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 91,200 shares of the company’s stock valued at $3,088,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp increased its stake in Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after purchasing an additional 307 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Federated Hermes by 30.5% during 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. Eqis Capital Management Inc. increased its stake in Federated Hermes by 3.7% during the 4th quarter. Eqis Capital Management Inc. now owns 8,920 shares of the company’s stock valued at $324,000 after purchasing an additional 321 shares in the last quarter. Finally, Whitener Capital Management Inc. increased its stake in Federated Hermes by 3.6% during the 3rd quarter. Whitener Capital Management Inc. now owns 9,450 shares of the company’s stock valued at $320,000 after purchasing an additional 330 shares in the last quarter. 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.