Royal Bank of Canada Boosts Federated Hermes (NYSE:FHI) Price Target to $36.00

Federated Hermes (NYSE:FHI) had its price objective hoisted by stock analysts at Royal Bank of Canada from $35.00 to $36.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential downside of 1.69% from the stock’s previous close.

FHI has been the topic of several other reports. Evercore ISI boosted their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group reduced their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Finally, TD Cowen dropped their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.83.

Federated Hermes Price Performance

NYSE FHI traded up $0.61 during trading on Friday, reaching $36.62. 177,144 shares of the company traded hands, compared to its average volume of 714,435. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The stock’s 50 day moving average price is $34.71 and its two-hundred day moving average price is $34.08. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.41 and a beta of 1.16. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.43.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. The business had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. Federated Hermes’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. As a group, analysts anticipate that Federated Hermes will post 3.63 EPS for the current year.

Insider Buying and Selling

In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now directly owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Federated Hermes

Large investors have recently modified their holdings of the business. Headlands Technologies LLC lifted its stake in Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after purchasing an additional 711 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares during the period. Mather Group LLC. acquired a new position in shares of Federated Hermes during the 2nd quarter worth approximately $47,000. CWM LLC lifted its holdings in Federated Hermes by 985.7% during the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after purchasing an additional 1,311 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.