JPMorgan Chase & Co. Has Lowered Expectations for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $56.00 to $53.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 1.73% from the stock’s current price.

FHI has been the topic of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada restated a “sector perform” rating and issued a $56.00 target price on shares of Federated Hermes in a report on Tuesday, April 21st. TD Cowen reduced their target price on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday. Finally, Argus upgraded shares of Federated Hermes to a “hold” rating in a report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average target price of $54.50.

Federated Hermes Price Performance

FHI stock traded down $0.19 during mid-day trading on Monday, hitting $53.94. The company had a trading volume of 1,263,415 shares, compared to its average volume of 766,163. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.89 and a beta of 0.67. Federated Hermes has a 12-month low of $41.04 and a 12-month high of $59.05. The company has a quick ratio of 2.30, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $56.63 and a 200 day moving average price of $53.46.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business had revenue of $478.96 million for the quarter, compared to analysts’ expectations of $475.22 million. During the same quarter in the previous year, the company earned $1.25 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that Federated Hermes will post 5.08 earnings per share for the current year.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of the company’s stock in a transaction dated 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 transaction, the vice president directly owned 263,987 shares in the company, valued at $14,843,989.01. This represents a 21.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds have recently modified their holdings of FHI. Seizert Capital Partners LLC lifted its position in Federated Hermes by 47.2% during the third quarter. Seizert Capital Partners LLC now owns 82,524 shares of the company’s stock valued at $4,285,000 after acquiring an additional 26,459 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of 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 buying an additional 506,500 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Federated Hermes by 3,592.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 46,412 shares of the company’s stock worth $2,410,000 after buying an additional 45,155 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Federated Hermes in the third quarter worth $1,397,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Federated Hermes by 19.9% in the third quarter. Allianz Asset Management GmbH now owns 1,008,221 shares of the company’s stock worth $52,357,000 after buying an additional 167,225 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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.