Royal Bank of Canada Issues Pessimistic Forecast for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its target price dropped by research analysts at Royal Bank of Canada from $42.00 to $39.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential downside of 1.20% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Evercore ISI upped their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $42.00 price target (down previously from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Finally, TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.17.

Federated Hermes Stock Performance

Shares of FHI opened at $39.48 on Tuesday. Federated Hermes has a one year low of $31.24 and a one year high of $43.92. The company has a market cap of $3.23 billion, a PE ratio of 12.69, a P/E/G ratio of 1.39 and a beta of 1.16. The stock has a 50-day moving average of $40.83 and a 200-day moving average of $37.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03.

Insider Activity

In other news, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the transaction, the vice president now owns 310,767 shares in the company, valued at approximately $12,862,646.13. This represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,280 shares of company stock valued at $986,421 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federated Hermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Federated Hermes in the 4th quarter worth approximately $43,000. GAMMA Investing LLC lifted its position in shares of Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after acquiring an additional 349 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Federated Hermes in the fourth quarter worth $53,000. Neo Ivy Capital Management purchased a new position in shares of Federated Hermes in the third quarter valued at $60,000. Finally, CWM LLC raised its stake in shares of Federated Hermes by 74.7% during the 3rd quarter. CWM LLC now owns 2,523 shares of the company’s stock valued at $93,000 after purchasing an additional 1,079 shares during the period. Institutional investors own 75.94% of the company’s stock.

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.