Federated Hermes (NYSE:FHI) Rating Lowered to Underweight at JPMorgan Chase & Co.

Federated Hermes (NYSE:FHI) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Thursday,Finviz reports. They presently have a $56.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.55% from the company’s current price.

Several other analysts also recently commented on FHI. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Royal Bank Of Canada restated a “sector perform” rating and set a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. TD Cowen restated a “hold” rating on shares of Federated Hermes in a research report on Thursday, April 9th. Finally, Wall Street Zen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Federated Hermes has an average rating of “Hold” and an average target price of $55.00.

Federated Hermes Stock Down 0.4%

FHI stock opened at $58.06 on Thursday. The company has a fifty day moving average price of $56.07 and a 200 day moving average price of $53.07. Federated Hermes has a 12 month low of $35.88 and a 12 month high of $59.05. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.30.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The firm had revenue of $482.83 million during the quarter, compared to the consensus estimate of $468.45 million. During the same quarter in the prior year, the firm earned $1.04 EPS. Federated Hermes’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Insider Activity

In other news, VP Paul A. Uhlman sold 72,392 shares of the 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 completion of the transaction, the vice president owned 263,987 shares in the company, valued at $14,843,989.01. This trade represents a 21.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Federated Hermes

A number of large investors have recently made changes to their positions in FHI. Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Federated Hermes by 3,229.0% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after purchasing an additional 2,577,442 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Federated Hermes by 2,410.2% in the 3rd quarter. Victory Capital Management Inc. now owns 779,492 shares of the company’s stock valued at $40,479,000 after purchasing an additional 748,439 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Federated Hermes by 29.6% in the 3rd quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after purchasing an additional 670,643 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Federated Hermes by 2,427.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock valued at $27,386,000 after purchasing an additional 506,500 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Federated Hermes by 20.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock valued at $132,024,000 after purchasing an additional 498,202 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

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.