Federated Hermes (NYSE:FHI) Receives Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Federated Hermes (NYSE:FHI - Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has a $42.00 target price on the stock, down from their prior target price of $49.00.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada lifted their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Evercore ISI boosted their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 11th. UBS Group boosted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Finally, TD Cowen raised shares of Federated Hermes from a "hold" rating to a "buy" rating and increased their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $42.50.

Federated Hermes Stock Down 3.3 %

FHI stock traded down $1.32 during mid-day trading on Tuesday, reaching $39.27. The company had a trading volume of 981,236 shares, compared to its average volume of 649,709. Federated Hermes has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The firm has a fifty day simple moving average of $41.68 and a 200 day simple moving average of $37.23.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million during the quarter, compared to analysts' expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The firm's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Analysts forecast that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.31 dividend. The ex-dividend date of this dividend 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 39.87%.

Insider Buying and Selling

In related news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company's stock, valued at $3,083,018.32. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul A. Uhlman sold 6,311 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the transaction, the vice president now owns 310,767 shares of the company's stock, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,280 shares of company stock worth $1,185,871 in the last 90 days. Company insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Federated Hermes

Several institutional investors have recently made changes to their positions in FHI. Los Angeles Capital Management LLC acquired a new stake in shares of Federated Hermes in the 2nd quarter worth approximately $206,000. Acadian Asset Management LLC increased its position in shares of Federated Hermes by 23.3% in the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company's stock valued at $111,000 after buying an additional 643 shares in the last quarter. LSV Asset Management acquired a new position in shares of Federated Hermes during the 2nd quarter worth $11,913,000. Headlands Technologies LLC boosted its position in shares of Federated Hermes by 134.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company's stock worth $64,000 after buying an additional 1,117 shares in the last quarter. Finally, Factorial Partners LLC acquired a new stake in Federated Hermes in the 2nd quarter valued at about $4,726,000. 75.94% of the stock is currently owned by hedge funds and other 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.