Federated Hermes (NYSE:FHI) Given a $51.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised the price target for Federated Hermes from $45.00 to $51.00, indicating a potential downside of 5.29% from its current price, while maintaining a "sector perform" rating.
• Several analysts have varying ratings on Federated Hermes, with TD Cowen downgrading the stock to "hold" and JPMorgan Chase upgrading it to "neutral" with a price target increase to $54.00.
• Federated Hermes reported earnings of $1.16 per share for the last quarter, exceeding expectations and reflecting a year-over-year revenue increase of 5.5% to $424.84 million.

Federated Hermes (NYSE:FHI - Get Free Report) has been assigned a $51.00 price objective by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential downside of 4.97% from the company's current price.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI raised their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Finally, Wall Street Zen cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and a consensus target price of $47.00.

Federated Hermes Trading Up 0.0%

Shares of FHI traded up $0.02 during trading hours on Thursday, hitting $53.67. 219,520 shares of the stock were exchanged, compared to its average volume of 829,366. Federated Hermes has a fifty-two week low of $32.93 and a fifty-two week high of $54.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The business has a 50-day moving average of $46.32 and a 200-day moving average of $41.99. The firm has a market capitalization of $4.16 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.74 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company had revenue of $424.84 million during the quarter, compared to analysts' expectations of $424.83 million. During the same period in the prior year, the company posted $0.96 earnings per share. Federated Hermes's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts expect that Federated Hermes will post 4.04 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Federated Hermes

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Federated Hermes by 246.6% during the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after acquiring an additional 614 shares during the last quarter. Quarry LP bought a new stake in shares of Federated Hermes during the 4th quarter worth $37,000. AdvisorNet Financial Inc bought a new stake in shares of Federated Hermes during the 2nd quarter worth $44,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Federated Hermes during the 2nd quarter worth $46,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after acquiring an additional 287 shares during the last quarter. 75.94% of the stock is owned by 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.