Royal Bank of Canada Cuts Federated Hermes (NYSE:FHI) Price Target to $39.00

Federated Hermes (NYSE:FHI) had its price objective trimmed by Royal Bank of Canada from $42.00 to $39.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Evercore ISI lifted their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $42.00 price target (down previously from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, UBS Group boosted their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and an average target price of $42.17.

Federated Hermes Stock Up 0.8 %

Shares of NYSE:FHI opened at $39.77 on Tuesday. The business’s 50-day moving average is $40.79 and its 200-day moving average is $37.89. Federated Hermes has a 1 year low of $31.24 and a 1 year high of $43.92. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. Equities research analysts predict that Federated Hermes will post 3.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 4,454 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.38, for a total transaction of $184,306.52. Following the sale, the chief executive officer now directly owns 184,642 shares in the company, valued at approximately $7,640,485.96. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul A. Uhlman sold 6,311 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the transaction, the vice president now owns 310,767 shares of the company’s stock, valued at $12,862,646.13. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,280 shares of company stock worth $986,421. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Federated Hermes

A number of hedge funds and other institutional investors have recently made changes to their positions in FHI. Charles Schwab Investment Management Inc. raised its position in 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. Barclays PLC raised its holdings in shares of Federated Hermes by 228.6% in the 3rd quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after purchasing an additional 150,017 shares during the period. FMR LLC lifted its stake in Federated Hermes by 2.5% in the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after purchasing an additional 137,245 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Federated Hermes by 387.6% during the third quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock valued at $5,867,000 after purchasing an additional 126,840 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Federated Hermes by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after purchasing an additional 92,643 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.