Royal Bank of Canada Forecasts Strong Price Appreciation for Federated Hermes (NYSE:FHI) Stock

Federated Hermes (NYSE:FHI) had its price target hoisted by Royal Bank of Canada from $36.00 to $39.00 in a report published on Monday, Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities analysts have also commented on the stock. StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Evercore ISI increased their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $46.00 in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, UBS Group boosted their target price on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Federated Hermes Price Performance

Federated Hermes stock opened at $40.14 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $36.33 and a 200-day simple moving average of $34.32. The stock has a market cap of $3.32 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Federated Hermes has a 12-month low of $31.08 and a 12-month high of $40.65.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same period in the previous year, the business earned $0.86 EPS. Federated Hermes’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts expect that Federated Hermes will post 3.68 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the sale, the vice president now owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FHI. Hexagon Capital Partners LLC boosted its position in shares of Federated Hermes by 30.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock worth $49,000 after purchasing an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Federated Hermes during the first quarter worth about $1,542,000. BNP Paribas Financial Markets grew its position in Federated Hermes by 69.3% during the first quarter. BNP Paribas Financial Markets now owns 36,615 shares of the company’s stock worth $1,323,000 after buying an additional 14,987 shares during the period. Capstone Investment Advisors LLC increased its holdings in Federated Hermes by 11.4% in the first quarter. Capstone Investment Advisors LLC now owns 14,151 shares of the company’s stock valued at $511,000 after buying an additional 1,449 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Federated Hermes during the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.