Royal Bank of Canada Boosts Federated Hermes (NYSE:FHI) Price Target to $39.00

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

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of Federated Hermes from a "hold" rating to a "buy" rating in a research note on Friday, October 4th. Evercore ISI increased their price objective on Federated Hermes from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. TD Cowen upgraded Federated Hermes from a "hold" rating to a "buy" rating and lifted their target price for the company from $35.00 to $46.00 in a research report on Monday. UBS Group increased their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Federated Hermes Price Performance

Shares of Federated Hermes stock traded up $1.22 on Monday, reaching $39.85. The company's stock had a trading volume of 1,206,518 shares, compared to its average volume of 714,222. The stock has a 50-day moving average price of $35.84 and a 200-day moving average price of $34.19. Federated Hermes has a 52-week low of $30.98 and a 52-week high of $40.36. The company has a market capitalization of $3.29 billion, a P/E ratio of 13.83, a PEG ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34.

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

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.11%. Federated Hermes's dividend payout ratio is presently 42.61%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the business's 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 directly owns 442,570 shares in the company, valued at $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 is available at the SEC website. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

Several large investors have recently bought and sold shares of FHI. SG Americas Securities LLC increased its holdings in shares of Federated Hermes by 267.9% in 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 during the last quarter. Tidal Investments LLC purchased a new position in Federated Hermes in the first quarter valued at approximately $1,419,000. Ontario Teachers Pension Plan Board raised its holdings in Federated Hermes by 103.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 58,726 shares of the company's stock worth $2,121,000 after purchasing an additional 29,793 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Federated Hermes during the 1st quarter worth approximately $1,542,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company's stock valued at $37,555,000 after buying an additional 324,958 shares during the last quarter. Hedge funds and other institutional investors 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.