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

Federated Hermes (NYSE:FHI) had its price objective increased 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 brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential downside of 1.69% from the company’s previous close.

A number of other equities analysts have also recently issued reports on FHI. Evercore ISI lifted 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. TD Cowen decreased their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. lifted 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. UBS Group decreased their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.83.

Federated Hermes Stock Performance

FHI traded up $0.61 during trading hours on Friday, hitting $36.62. The company’s stock had a trading volume of 177,144 shares, compared to its average volume of 714,435. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.43. The firm has a market capitalization of $3.03 billion, a PE ratio of 12.58, a PEG ratio of 1.41 and a beta of 1.16. The company has a 50-day simple moving average of $34.71 and a 200 day simple moving average of $34.08. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. During the same period last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Federated Hermes will post 3.63 EPS for the current year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

A number of institutional investors and hedge funds have recently made changes to their positions in FHI. Gilman Hill Asset Management LLC bought a new position in shares of Federated Hermes in the third quarter worth about $202,000. Exchange Traded Concepts LLC increased its stake in shares of Federated Hermes by 19.0% in the third quarter. Exchange Traded Concepts LLC now owns 21,680 shares of the company’s stock worth $797,000 after purchasing an additional 3,462 shares during the period. CWM LLC increased its stake in shares of Federated Hermes by 74.7% in the third quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after purchasing an additional 1,079 shares during the period. Diversified Trust Co increased its stake in shares of Federated Hermes by 13.2% in the third quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock worth $293,000 after purchasing an additional 928 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of 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 period. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.