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

Federated Hermes (NYSE:FHI - Get Free Report) had its target price lifted by equities research analysts at Royal Bank Of Canada from $43.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential downside of 2.48% from the company's current price.

Several other brokerages have also weighed in on FHI. Evercore ISI lifted their price target on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price target on Federated Hermes from $39.00 to $40.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Federated Hermes presently has an average rating of "Hold" and a consensus target price of $42.50.

Federated Hermes Price Performance

Shares of Federated Hermes stock traded down $0.18 on Thursday, hitting $46.14. The company's stock had a trading volume of 345,531 shares, compared to its average volume of 736,390. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04. Federated Hermes has a 1 year low of $31.94 and a 1 year high of $46.84. The firm has a fifty day moving average price of $43.14 and a 200-day moving average price of $40.41. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.78.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share 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 quarter in the previous year, the business earned $0.89 EPS. Federated Hermes's revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the sale, the vice president directly owned 316,930 shares in the company, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Federated Hermes

A number of large investors have recently made changes to their positions in the stock. Diversified Trust Co grew its position in shares of Federated Hermes by 2.6% in the second quarter. Diversified Trust Co now owns 9,036 shares of the company's stock valued at $400,000 after purchasing an additional 229 shares in the last quarter. Hohimer Wealth Management LLC grew its position in shares of Federated Hermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock valued at $277,000 after purchasing an additional 249 shares in the last quarter. CW Advisors LLC grew its position in shares of Federated Hermes by 3.8% in the first quarter. CW Advisors LLC now owns 7,168 shares of the company's stock valued at $292,000 after purchasing an additional 261 shares in the last quarter. Walleye Capital LLC grew its position in shares of Federated Hermes by 4.1% in the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock valued at $283,000 after purchasing an additional 269 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Federated Hermes by 2.5% in the first quarter. Pacer Advisors Inc. now owns 11,900 shares of the company's stock valued at $485,000 after purchasing an additional 286 shares in the last quarter. 75.94% of the stock is currently 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.