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

Federated Hermes (NYSE:FHI) had its price objective cut by equities research analysts at Royal Bank of Canada from $42.00 to $39.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential downside of 0.08% from the stock’s current price.

FHI has been the topic of a number of other research reports. Evercore ISI boosted their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $46.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $42.00 price objective (down previously from $49.00) on shares of Federated Hermes in a research note on Tuesday, January 7th. Finally, UBS Group upped their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Trading Up 0.6 %

NYSE FHI opened at $39.03 on Tuesday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.39 and a beta of 1.16. The business has a 50 day simple moving average of $40.86 and a 200 day simple moving average of $37.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes has a one year low of $31.24 and a one year high of $43.92.

Insider Activity

In related news, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total transaction of $56,523.61. Following the sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares of the company’s stock, valued at $3,083,018.32. This trade represents a 6.08 % 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. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

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