Federated Hermes (NYSE:FHI) Price Target Cut to $39.00 by Analysts at Royal Bank of Canada

Federated Hermes (NYSE:FHI) had its price target cut by Royal Bank of Canada from $42.00 to $39.00 in a research note published on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

FHI has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $42.00 target price (down previously from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $46.00 in a report on Monday, October 28th. UBS Group upped their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI raised their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Federated Hermes presently has an average rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Stock Up 0.8 %

Shares of NYSE FHI opened at $39.77 on Tuesday. The business has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $37.89. The company has a market cap of $3.25 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.39 and a beta of 1.16. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last released its quarterly 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 16.62% and a return on equity of 29.85%. Research analysts anticipate that Federated Hermes will post 3.88 earnings per share for the current fiscal year.

Insider Transactions at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,280 shares of company stock valued at $986,421 in the last three months. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Federated Hermes

Large investors have recently modified their holdings of the stock. Inspire Investing LLC bought a new stake in Federated Hermes during the 4th quarter valued at about $829,000. GAMMA Investing LLC boosted its holdings in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after purchasing an additional 349 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after acquiring an additional 152,926 shares during the period. Fortis Advisors LLC purchased a new stake in shares of Federated Hermes during the 4th quarter valued at about $727,000. Finally, Barclays PLC boosted its holdings in shares of Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after buying an additional 150,017 shares during 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 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.