Federated Hermes (NYSE:FHI – Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 34.44% from the stock’s previous close.
Several other equities analysts have also recently issued reports on FHI. Royal Bank of Canada boosted their target price on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. UBS Group upped their price target on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, TD Cowen began coverage on Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.
Get Our Latest Analysis on FHI
Federated Hermes Stock Down 0.3 %
Federated Hermes stock opened at $34.96 on Wednesday. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $44.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. The company has a market capitalization of $2.95 billion, a P/E ratio of 10.25, a PEG ratio of 0.84 and a beta of 1.12. The stock has a 50-day simple moving average of $35.68 and a 200-day simple moving average of $34.05.
Federated Hermes (NYSE:FHI – Get Free Report) last posted its quarterly earnings data on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. Equities research analysts expect that Federated Hermes will post 3.73 earnings per share for the current year.
Insider Buying and Selling
In related news, VP Paul A. Uhlman sold 90,745 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total value of $3,199,668.70. Following the transaction, the vice president now directly owns 289,904 shares of the company’s stock, valued at approximately $10,222,015.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 directly owns 49,068 shares in the company, 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 Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the sale, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Federated Hermes
A number of hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Federated Hermes by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,492 shares of the company’s stock worth $1,209,000 after acquiring an additional 3,384 shares during the last quarter. BlackRock Inc. lifted its holdings in Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after acquiring an additional 466,504 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in Federated Hermes by 3.0% in the first quarter. Yousif Capital Management LLC now owns 51,532 shares of the company’s stock worth $1,755,000 after acquiring an additional 1,490 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Federated Hermes by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock worth $76,638,000 after acquiring an additional 40,797 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Federated Hermes by 313.0% in the first quarter. Sei Investments Co. now owns 49,005 shares of the company’s stock worth $1,671,000 after acquiring an additional 37,140 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.
About Federated Hermes
(Get Free Report)
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.
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