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

Federated Hermes (NYSE:FHI) had its price objective upped by Royal Bank of Canada from $35.00 to $36.00 in a research note published on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts also recently issued reports on the stock. TD Cowen decreased their target price on shares of Federated Hermes from $34.00 to $33.00 and set a hold rating for the company in a research report on Monday, July 29th. UBS Group dropped their target price on Federated Hermes from $36.00 to $35.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. StockNews.com raised Federated Hermes from a hold rating to a buy rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Finally, Evercore ISI increased their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an outperform rating in a report on Friday, October 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $37.80.

Federated Hermes Stock Performance

Shares of FHI opened at $36.68 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The stock has a 50-day moving average of $34.76 and a two-hundred day moving average of $34.08. The stock has a market cap of $3.03 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.41 and a beta of 1.16. Federated Hermes has a one year low of $30.23 and a one year high of $37.43.

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

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 3.38%. Federated Hermes’s dividend payout ratio is currently 42.61%.

Insider Buying and Selling at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Federated Hermes

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC boosted its stake in Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares during the last quarter. GAMMA Investing LLC grew its stake in Federated Hermes by 49.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares in the last quarter. Mather Group LLC. acquired a new stake in Federated Hermes in the 2nd quarter valued at about $47,000. CWM LLC lifted its stake in Federated Hermes by 985.7% in the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock worth $47,000 after purchasing an additional 1,311 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Federated Hermes by 26.0% during the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after purchasing an additional 296 shares during the last quarter. 75.94% of the stock is currently 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.