Federated Hermes (NYSE:FHI) Raised to Neutral at JPMorgan Chase & Co.

Federated Hermes (NYSE:FHI) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a $54.00 price objective on the stock, up from their previous price objective of $40.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.96% from the company’s current price.

A number of other analysts have also recently issued reports on FHI. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday. Evercore ISI increased their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Royal Bank Of Canada lifted their target price on shares of Federated Hermes from $43.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, July 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

Federated Hermes Stock Performance

NYSE:FHI opened at $51.45 on Monday. The firm’s 50-day moving average is $45.17 and its 200-day moving average is $41.45. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.94 and a beta of 0.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.35 and a current ratio of 3.37. Federated Hermes has a 52-week low of $31.94 and a 52-week high of $51.54.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. Equities research analysts anticipate that Federated Hermes will post 4.04 earnings per share for the current year.

Insider Activity at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares in the company, valued at $13,355,430.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Federated Hermes

Several large investors have recently added to or reduced their stakes in the company. Meritage Portfolio Management grew its holdings in Federated Hermes by 100.7% during the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock worth $936,000 after acquiring an additional 11,523 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Federated Hermes during the first quarter valued at approximately $2,584,000. Ritholtz Wealth Management bought a new stake in shares of Federated Hermes during the first quarter valued at approximately $1,283,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Federated Hermes in the fourth quarter valued at approximately $585,000. Finally, SG Americas Securities LLC bought a new position in Federated Hermes in the 1st quarter worth approximately $401,000. 75.94% of the stock is owned by institutional investors.

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.