Federated Hermes (NYSE:FHI) Price Target Lowered to $54.00 at Royal Bank Of Canada

Federated Hermes (NYSE:FHI) had its price objective reduced by analysts at Royal Bank Of Canada from $56.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential downside of 4.06% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday. Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday. Finally, TD Cowen lowered their target price on Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.00.

Federated Hermes Stock Up 2.2%

Shares of Federated Hermes stock traded up $1.22 during trading hours on Wednesday, hitting $56.29. 111,858 shares of the company’s stock traded hands, compared to its average volume of 760,384. The company has a quick ratio of 2.30, a current ratio of 3.28 and a debt-to-equity ratio of 0.29. Federated Hermes has a twelve month low of $41.55 and a twelve month high of $59.05. The stock has a 50 day simple moving average of $56.62 and a 200-day simple moving average of $53.48. The company has a market cap of $4.28 billion, a PE ratio of 10.92, a PEG ratio of 1.89 and a beta of 0.67.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $478.96 million during the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Equities research analysts anticipate that Federated Hermes will post 5.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 72,392 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.23, for a total value of $4,070,602.16. Following the transaction, the vice president owned 263,987 shares in the company, valued at approximately $14,843,989.01. This represents a 21.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Schneider Downs Wealth Management Advisors LP grew its stake in shares of Federated Hermes by 3,229.0% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after buying an additional 2,577,442 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Federated Hermes by 2,410.2% during the third quarter. Victory Capital Management Inc. now owns 779,492 shares of the company’s stock valued at $40,479,000 after acquiring an additional 748,439 shares during the period. Invesco Ltd. increased its stake in shares of Federated Hermes by 29.6% in the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock worth $152,669,000 after purchasing an additional 670,643 shares during the period. Jupiter Asset Management Ltd. lifted its position in shares of Federated Hermes by 2,427.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company’s stock worth $27,386,000 after purchasing an additional 506,500 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Federated Hermes by 20.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock valued at $132,024,000 after purchasing an additional 498,202 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.