Royal Bank of Canada Issues Positive Forecast for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its price target boosted by Royal Bank of Canada from $36.00 to $39.00 in a research note published on Monday, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other research analysts also recently commented on FHI. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Evercore ISI raised their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group boosted their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $46.00 in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Federated Hermes Stock Down 0.4 %

Shares of NYSE FHI opened at $40.14 on Monday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company’s 50-day simple moving average is $36.33 and its 200-day simple moving average is $34.32. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. Federated Hermes has a 52-week low of $31.08 and a 52-week high of $40.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. Federated Hermes’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. Equities analysts predict that Federated Hermes will post 3.68 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 3.09%. Federated Hermes’s payout ratio is 35.23%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now owns 77,288 shares in the company, valued at $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares in the company, valued at $3,083,018.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 owns 442,570 shares in the company, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC increased its stake in Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares during the period. GAMMA Investing LLC increased its position in shares of Federated Hermes by 49.0% during the third 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 stake in shares of Federated Hermes in the second quarter valued at $47,000. Hexagon Capital Partners LLC boosted its holdings in Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after purchasing an additional 317 shares during the period. Finally, UMB Bank n.a. grew its stake in Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

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.