Royal Bank of Canada Boosts Federated Hermes (NYSE:FHI) Price Target to $36.00

Federated Hermes (NYSE:FHI) had its target price boosted by Royal Bank of Canada from $35.00 to $36.00 in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

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

Federated Hermes Trading Up 0.9 %

FHI stock opened at $36.98 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The business has a 50 day simple moving average of $34.85 and a two-hundred day simple moving average of $34.07. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.43. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.41 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Research analysts anticipate that Federated Hermes will post 3.63 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 35.23%.

Insider Activity at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the 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 sale, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in shares of Federated Hermes by 123.8% in the 4th quarter. GSA Capital Partners LLP now owns 69,821 shares of the company’s stock worth $2,364,000 after acquiring an additional 38,630 shares during the period. SG Americas Securities LLC increased its holdings in Federated Hermes by 267.9% during the 2nd quarter. SG Americas Securities LLC now owns 26,820 shares of the company’s stock valued at $882,000 after acquiring an additional 19,530 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Federated Hermes during the 1st quarter worth approximately $1,419,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Federated Hermes during the 1st quarter worth approximately $1,542,000. Finally, Ontario Teachers Pension Plan Board grew its holdings in Federated Hermes by 103.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company’s stock valued at $2,121,000 after buying an additional 29,793 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.