JP Morgan Maintains Overweight Rating for Federated Hermes: Here's What You Need To Know

JP Morgan has decided to maintain its Overweight rating of Federated Hermes FHI and lower its price target from $47.00 to $45.00.

Shares of Federated Hermes are trading up 0.29% over the last 24 hours, at $34.65 per share.

A move to $45.00 would account for a 29.87% increase from the current share price.

About Federated Hermes

Federated provides asset management services for institutional and individual investors. The company had $668.9 billion in managed assets at the end of 2022, composed of equity (12%), multi-asset (1%), fixed-income (13%), alternative (3%), and money market (71%) funds. That said, the firm's cash-management operations are expected to generate around 47% of Federated's revenue this year, compared with 32%, 13%, and 8%, respectively, for the firm's equity, fixed-income, and alternatives/multi-asset operations. From a channel perspective, the company's products are distributed via trust banks, wealth managers and retail broker/dealers (62% of AUM), institutional investors (28%), and international clients (10%).

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This article was generated by Benzinga's automated content engine and reviewed by an editor.