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

Federated Hermes (NYSE:FHI - Get Free Report) had its price objective dropped by analysts at Royal Bank of Canada from $42.00 to $39.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's target price indicates a potential downside of 0.89% from the company's previous close.

Several other analysts also recently weighed in on the stock. TD Cowen raised shares of Federated Hermes from a "hold" rating to a "buy" rating and boosted their target price for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. UBS Group boosted their price target on Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Evercore ISI raised their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, StockNews.com lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Federated Hermes presently has an average rating of "Hold" and a consensus target price of $42.17.

Federated Hermes Stock Up 1.4 %

Federated Hermes stock traded up $0.55 during midday trading on Tuesday, reaching $39.35. The company's stock had a trading volume of 588,405 shares, compared to its average volume of 622,230. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The stock has a market capitalization of $3.22 billion, a P/E ratio of 12.65, a PEG ratio of 1.39 and a beta of 1.16. The stock's 50-day simple moving average is $40.86 and its 200-day simple moving average is $37.84. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 4,454 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.38, for a total transaction of $184,306.52. Following the transaction, the chief executive officer now owns 184,642 shares in the company, valued at approximately $7,640,485.96. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now owns 53,837 shares of the company's stock, valued at $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,280 shares of company stock valued at $1,185,871 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Federated Hermes

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company's stock valued at $28,282,000 after buying an additional 152,926 shares during the last quarter. Barclays PLC grew its stake in Federated Hermes by 228.6% during the 3rd quarter. Barclays PLC now owns 215,650 shares of the company's stock valued at $7,930,000 after acquiring an additional 150,017 shares in the last quarter. FMR LLC raised its holdings in Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company's stock valued at $208,351,000 after acquiring an additional 137,245 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Federated Hermes by 387.6% in the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company's stock worth $5,867,000 after purchasing an additional 126,840 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Federated Hermes by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company's stock worth $45,982,000 after purchasing an additional 92,643 shares during the last quarter. Institutional investors and hedge funds 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.