Federated Hermes (NYSE:FHI) Receives Neutral Rating from JPMorgan Chase & Co.

Federated Hermes (NYSE:FHI)‘s stock had its “neutral” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $42.00 target price on the stock, down from their prior target price of $49.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.45% from the stock’s previous close.

A number of other research firms have also weighed in on FHI. Royal Bank of Canada upped their price objective on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. UBS Group upped their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Finally, Evercore ISI lifted their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $40.60 on Tuesday. The company has a market capitalization of $3.32 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.19 and a beta of 1.15. Federated Hermes has a 1-year low of $31.24 and a 1-year high of $43.92. The firm’s 50 day simple moving average is $41.68 and its two-hundred day simple moving average is $37.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The company had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. Federated Hermes’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. Research analysts expect that Federated Hermes will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,280 shares of company stock valued at $1,185,871 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FHI. Los Angeles Capital Management LLC purchased a new position in shares of Federated Hermes during the 2nd quarter worth about $206,000. Acadian Asset Management LLC raised its position in Federated Hermes by 23.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock worth $111,000 after purchasing an additional 643 shares during the period. LSV Asset Management bought a new stake in Federated Hermes in the second quarter worth about $11,913,000. Headlands Technologies LLC boosted its position in shares of Federated Hermes by 134.9% during the second quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after buying an additional 1,117 shares during the period. Finally, Factorial Partners LLC bought a new position in shares of Federated Hermes during the second quarter valued at approximately $4,726,000. 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.