Federated Hermes (NYSE:FHI) Stock Price Target Raised at JPMorgan Chase & Co.

Federated Hermes (NYSE:FHI) had its target price increased by equities researchers at JPMorgan Chase & Co. from $54.00 to $56.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 9.01% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FHI. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings raised Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Finally, TD Cowen decreased their target price on Federated Hermes from $60.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average price target of $58.40.

Federated Hermes Trading Up 5.2%

Shares of NYSE:FHI traded up $3.06 on Monday, reaching $61.54. 107,378 shares of the company traded hands, compared to its average volume of 712,650. The business’s 50-day simple moving average is $58.61 and its 200 day simple moving average is $57.38. Federated Hermes has a 52 week low of $47.26 and a 52 week high of $67.20. The stock has a market capitalization of $4.59 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.54 and a beta of 0.67. The company has a current ratio of 2.48, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.08. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The business had revenue of $507.33 million for the quarter, compared to analyst estimates of $504.91 million. During the same period last year, the company earned $1.34 EPS. Federated Hermes’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Federated Hermes will post 5.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in Federated Hermes in the 2nd quarter worth approximately $1,427,000. Morningstar Investment Management LLC lifted its holdings in shares of Federated Hermes by 82.6% during the 1st quarter. Morningstar Investment Management LLC now owns 39,895 shares of the company’s stock valued at $2,262,000 after buying an additional 18,047 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Federated Hermes during the 2nd quarter valued at $2,833,000. Congress Asset Management Co. boosted its stake in shares of Federated Hermes by 21.2% in the 3rd quarter. Congress Asset Management Co. now owns 102,693 shares of the company’s stock worth $5,789,000 after buying an additional 17,992 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Federated Hermes by 5.6% in the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock worth $34,967,000 after buying an additional 32,810 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

About Federated Hermes

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.