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

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

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

Federated Hermes Trading Up 0.9 %

Shares of NYSE FHI opened at $35.29 on Wednesday. The company’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $34.06. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $43.64. The firm has a market capitalization of $2.98 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.83 and a beta of 1.12. 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 (NYSE:FHI) last issued its earnings results on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating 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 firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $396.97 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Federated Hermes will post 3.73 EPS for the current year.

Federated Hermes Dividend Announcement

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

Insider Transactions at Federated Hermes

In other news, insider Richard A. Novak sold 908 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Richard A. Novak sold 908 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Meter Stephen Van sold 1,660 shares of the 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 transaction, the vice president now owns 31,689 shares of the company’s stock, valued at approximately $1,145,557.35. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock valued at $4,092,831 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL boosted its holdings in Federated Hermes by 0.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 91,200 shares of the company’s stock worth $3,088,000 after purchasing an additional 300 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Federated Hermes by 30.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after purchasing an additional 317 shares during the last quarter. Eqis Capital Management Inc. boosted its holdings in Federated Hermes by 3.7% during the fourth quarter. Eqis Capital Management Inc. now owns 8,920 shares of the company’s stock worth $324,000 after purchasing an additional 321 shares during the last quarter. Finally, Whitener Capital Management Inc. boosted its holdings in Federated Hermes by 3.6% during the third quarter. Whitener Capital Management Inc. now owns 9,450 shares of the company’s stock worth $320,000 after purchasing an additional 330 shares during 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.