Federated Hermes (NYSE:FHI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Federated Hermes (NYSE:FHI) had its price target upped by research analysts at JPMorgan Chase & Co. from $55.00 to $56.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 13.11% from the stock’s previous close.

FHI has been the subject of a number of other reports. Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Evercore ISI upped their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Finally, Royal Bank Of Canada increased their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.67.

Federated Hermes Trading Up 0.9%

Shares of FHI stock opened at $49.51 on Monday. Federated Hermes has a 52-week low of $35.05 and a 52-week high of $54.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The company has a 50-day simple moving average of $51.70 and a two-hundred day simple moving average of $47.53. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 0.54 and a beta of 0.80.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The business had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. During the same period in the prior year, the firm posted $1.06 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts anticipate that Federated Hermes will post 4.04 EPS for the current fiscal year.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total transaction of $728,100.00. Following the completion of the transaction, the chief executive officer directly owned 157,039 shares of the company’s stock, valued at $7,622,673.06. This represents a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FHI. AdvisorNet Financial Inc bought a new position in Federated Hermes in the 2nd quarter worth approximately $44,000. Farther Finance Advisors LLC lifted its stake in Federated Hermes by 97.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock worth $45,000 after purchasing an additional 430 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Federated Hermes in the 2nd quarter worth approximately $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Federated Hermes in the 2nd quarter worth approximately $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after purchasing an additional 287 shares in the last quarter. 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.