Federated Hermes’ (FHI) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Federated Hermes (NYSE:FHI) in a research note published on Tuesday, MarketBeat reports. They currently have a $42.00 price objective on the stock, down from their previous price objective of $49.00.

FHI has been the topic of a number of other research reports. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group raised their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Finally, Royal Bank of Canada raised their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes presently has an average rating of “Moderate Buy” and an average price target of $42.50.

Federated Hermes Stock Performance

FHI opened at $39.27 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.19 and a beta of 1.15. The business’s 50-day moving average price is $41.67 and its two-hundred day moving average price is $37.28. Federated Hermes has a 1 year low of $31.24 and a 1 year high of $43.92.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) 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 the consensus estimate of $410.26 million. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. Equities analysts expect that Federated Hermes will post 3.88 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 3.16%. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Insider Transactions at Federated Hermes

In other news, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,280 shares of company stock worth $1,185,871 over the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares in the last quarter. LSV Asset Management bought a new position in shares of Federated Hermes in the second quarter worth $11,913,000. AXA S.A. bought a new position in shares of Federated Hermes in the second quarter worth $6,200,000. Charles Schwab Investment Management Inc. lifted its position in Federated Hermes by 24.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after purchasing an additional 152,926 shares during the period. Finally, Barclays PLC grew its stake in Federated Hermes by 228.6% during the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after buying an additional 150,017 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Company Profile

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.