Federated Hermes’ (FHI) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of Federated Hermes (NYSE:FHI) in a report released on Wednesday, Marketbeat reports. The brokerage currently has a $41.00 price objective on the stock, down from their previous price objective of $42.00.

A number of other research analysts have also recently commented on FHI. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Evercore ISI upped their price objective on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Finally, Royal Bank of Canada lowered their price objective on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Federated Hermes currently has an average rating of “Hold” and an average target price of $42.00.

Federated Hermes Stock Down 1.7 %

FHI stock opened at $38.79 on Wednesday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92. The firm has a 50-day moving average price of $40.43 and a 200-day moving average price of $38.08.

Federated Hermes (NYSE:FHI) last posted 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, equities research analysts anticipate that Federated Hermes will post 4.14 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, February 7th. Federated Hermes’s dividend payout ratio is presently 38.87%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 1,363 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the transaction, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,128 shares of company stock valued at $502,042. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after purchasing an additional 137,245 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Federated Hermes by 53.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after purchasing an additional 446,683 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock worth $45,982,000 after purchasing an additional 92,643 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Federated Hermes by 19.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Federated Hermes by 13.1% in the 3rd quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock worth $28,953,000 after purchasing an additional 90,900 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

About Federated Hermes

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.