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

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Federated Hermes (NYSE:FHI) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a $41.00 price objective on the stock, down from their prior price objective of $42.00.

A number of other equities analysts have also recently commented on FHI. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. UBS Group increased their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Evercore ISI boosted their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $39.40 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The firm has a fifty day moving average of $40.57 and a 200 day moving average of $38.06. The firm has a market cap of $3.22 billion, a PE ratio of 12.35, a PEG ratio of 1.47 and a beta of 1.16. Federated Hermes has a one year low of $31.24 and a one year high of $43.92.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. As a group, research analysts predict that Federated Hermes will post 4.14 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, February 7th. Federated Hermes’s dividend payout ratio is currently 38.87%.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 6,311 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the sale, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,128 shares of company stock worth $502,042. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds have recently modified their holdings of FHI. Handelsbanken Fonder AB lifted its position in Federated Hermes by 12.8% in the third quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock valued at $745,000 after buying an additional 2,300 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares during the period. Diversified Trust Co lifted its holdings in shares of Federated Hermes by 13.2% in the 3rd quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock worth $293,000 after acquiring an additional 928 shares during the last quarter. CWM LLC boosted its position in shares of Federated Hermes by 74.7% during the 3rd quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after purchasing an additional 1,079 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Federated Hermes by 19.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,680 shares of the company’s stock valued at $797,000 after purchasing an additional 3,462 shares during the last quarter. 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.