Federated Hermes (NYSE:FHI) Price Target Raised to $45.00 at Royal Bank Of Canada

Federated Hermes (NYSE:FHI - Get Free Report) had its price objective boosted by Royal Bank Of Canada from $43.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential downside of 2.63% from the company's current price.

Other equities research analysts have also issued reports about the company. Evercore ISI raised their target price on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. TD Cowen downgraded Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on Federated Hermes from $39.00 to $40.00 and gave the stock an "underweight" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $42.50.

Federated Hermes Stock Performance

Shares of Federated Hermes stock traded down $0.11 during trading hours on Thursday, hitting $46.22. 162,476 shares of the company's stock traded hands, compared to its average volume of 734,048. Federated Hermes has a 12-month low of $31.94 and a 12-month high of $46.84. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.86 and a beta of 0.78. The company has a fifty day simple moving average of $43.06 and a 200-day simple moving average of $40.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.04 and a quick ratio of 2.35.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The firm had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. During the same period last year, the firm posted $0.89 EPS. The business's revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Federated Hermes will post 4.04 EPS for the current fiscal year.

Insider Activity

In related news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president directly owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Federated Hermes

A number of large investors have recently modified their holdings of the company. Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Federated Hermes during the 2nd quarter valued at about $146,000. Diversified Trust Co raised its holdings in shares of Federated Hermes by 2.6% during the 2nd quarter. Diversified Trust Co now owns 9,036 shares of the company's stock valued at $400,000 after buying an additional 229 shares in the last quarter. Three Seasons Wealth LLC purchased a new position in shares of Federated Hermes during the 2nd quarter valued at about $451,000. Exchange Traded Concepts LLC raised its holdings in shares of Federated Hermes by 1.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 20,712 shares of the company's stock valued at $918,000 after buying an additional 396 shares in the last quarter. Finally, Marshall Financial Group LLC purchased a new position in shares of Federated Hermes during the 2nd quarter valued at about $1,012,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.