Federated Hermes (NYSE:FHI) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Federated Hermes (NYSE:FHI) from a neutral rating to an underweight rating in a research report released on Thursday, MarketBeat reports. They currently have $56.00 target price on the stock, up from their previous target price of $55.00.

A number of other brokerages have also recently issued reports on FHI. Argus raised shares of Federated Hermes to a “hold” rating in a report on Monday, February 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $55.00 target price (up from $54.00) on shares of Federated Hermes in a report on Tuesday, February 3rd. TD Cowen reiterated a “hold” rating on shares of Federated Hermes in a research report on Thursday, April 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Federated Hermes from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Federated Hermes has an average rating of “Hold” and an average price target of $55.00.

Federated Hermes Stock Down 0.6%

Shares of NYSE:FHI opened at $56.61 on Thursday. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.99 and a beta of 0.67. Federated Hermes has a 1-year low of $35.88 and a 1-year high of $59.05. The company’s fifty day moving average is $56.25 and its two-hundred day moving average is $53.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The business had revenue of $482.83 million during the quarter, compared to analyst estimates of $468.45 million. During the same period in the previous year, the business posted $1.04 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Equities analysts anticipate that Federated Hermes will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were given a $0.34 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.36 annualized dividend and a yield of 2.4%. Federated Hermes’s dividend payout ratio is 26.46%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total value of $4,070,602.16. Following the sale, the vice president owned 263,987 shares in the company, valued at approximately $14,843,989.01. This trade represents a 21.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Burney Co. increased its holdings in shares of Federated Hermes by 11.8% during the third quarter. Burney Co. now owns 135,132 shares of the company’s stock valued at $7,017,000 after purchasing an additional 14,253 shares during the period. Seizert Capital Partners LLC lifted its holdings in Federated Hermes by 47.2% in the third quarter. Seizert Capital Partners LLC now owns 82,524 shares of the company’s stock worth $4,285,000 after purchasing an additional 26,459 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in Federated Hermes by 2,427.2% in the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after purchasing an additional 506,500 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Federated Hermes by 3,592.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 46,412 shares of the company’s stock valued at $2,410,000 after buying an additional 45,155 shares in the last quarter. Finally, Vest Financial LLC bought a new position in Federated Hermes in the 3rd quarter valued at about $1,397,000. 75.94% of the stock is owned by institutional investors.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.