JPMorgan Chase & Co. Reiterates “Neutral” Rating for Federated Hermes (NYSE:FHI)

JPMorgan Chase & Co. reiterated their neutral rating on shares of Federated Hermes (NYSE:FHI) in a research report released on Tuesday, Marketbeat.com reports. They currently have a $42.00 price target on the stock, down from their prior price target of $49.00.

Other analysts also recently issued research reports about the company. UBS Group lifted their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Evercore ISI upped their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $46.00 in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Federated Hermes has an average rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $39.32 on Tuesday. The company has a market capitalization of $3.22 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.19 and a beta of 1.16. 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 $41.64 and its two-hundred day simple moving average is $37.31. 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. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the company earned $0.86 EPS. Federated Hermes’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts expect that Federated Hermes will post 3.88 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.15%. Federated Hermes’s payout ratio is currently 39.87%.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the transaction, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,280 shares of company stock worth $1,185,871. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Federated Hermes

Several institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in shares of Federated Hermes by 3.1% in the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after buying an additional 275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Federated Hermes by 2.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after acquiring an additional 340 shares during the last quarter. GAMMA Investing LLC grew its position in Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares during the last quarter. Acadian Asset Management LLC increased its stake in Federated Hermes by 23.3% in the second 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. Finally, James Investment Research Inc. lifted its position in shares of Federated Hermes by 9.7% during the third quarter. James Investment Research Inc. now owns 7,896 shares of the company’s stock worth $290,000 after purchasing an additional 700 shares during the last quarter. Institutional investors 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.