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

Royal Bank Of Canada set a $51.00 target price on Federated Hermes (NYSE:FHI) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage currently has a sector perform rating on the stock.

A number of other brokerages also recently commented on FHI. Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Evercore ISI increased their price target on Federated Hermes from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. JPMorgan Chase & Co. upgraded Federated Hermes from an “underweight” rating to a “neutral” rating and raised their price target for the company from $40.00 to $54.00 in a research note on Monday, August 4th. Finally, TD Cowen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Federated Hermes Trading Up 0.6%

Shares of NYSE FHI opened at $53.96 on Thursday. Federated Hermes has a 52-week low of $32.93 and a 52-week high of $54.16. The stock has a market capitalization of $4.18 billion, a P/E ratio of 11.96, a PEG ratio of 0.76 and a beta of 0.77. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $46.56 and its two-hundred day moving average price is $42.10.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%. Federated Hermes’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. On average, analysts anticipate that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. Federated Hermes’s dividend payout ratio (DPR) is presently 30.16%.

Insider Activity at Federated Hermes

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

Institutional Investors Weigh In On Federated Hermes

Hedge funds have recently made changes to their positions in the business. Meritage Portfolio Management increased its position in shares of Federated Hermes by 100.7% during the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock valued at $936,000 after buying an additional 11,523 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Federated Hermes during the 1st quarter valued at approximately $2,584,000. Ritholtz Wealth Management purchased a new position in shares of Federated Hermes during the 1st quarter worth approximately $1,283,000. Mackenzie Financial Corp bought a new position in shares of Federated Hermes in the 1st quarter worth approximately $214,000. Finally, LSV Asset Management lifted its stake in shares of Federated Hermes by 27.1% in the 1st quarter. LSV Asset Management now owns 1,107,089 shares of the company’s stock valued at $45,136,000 after purchasing an additional 236,313 shares during the period. 75.94% of the stock is currently owned by 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.