Federated Hermes’ (FHI) “Maintains” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their maintains rating on shares of Federated Hermes (NYSE:FHIGet Rating) in a research note released on Tuesday, Benzinga reports.

FHI has been the topic of a number of other research reports. Citigroup reduced their target price on Federated Hermes from $28.50 to $25.50 in a report on Monday, May 2nd. StockNews.com upgraded Federated Hermes from a hold rating to a buy rating in a report on Thursday, July 28th. Keefe, Bruyette & Woods upgraded Federated Hermes from a market perform rating to an outperform rating and upped their target price for the stock from $32.00 to $40.00 in a report on Tuesday, June 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Federated Hermes from $37.00 to $36.00 in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes has an average rating of Moderate Buy and a consensus price target of $33.13.

Federated Hermes Stock Down 1.7 %

Shares of NYSE:FHI opened at $33.91 on Tuesday. Federated Hermes has a 1 year low of $27.88 and a 1 year high of $39.82. The company has a market cap of $3.11 billion, a PE ratio of 12.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.71 and a quick ratio of 2.14. The stock’s 50-day moving average is $32.81 and its 200 day moving average is $32.59.

Federated Hermes (NYSE:FHIGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). Federated Hermes had a net margin of 18.93% and a return on equity of 24.12%. The business had revenue of $366.01 million for the quarter, compared to analysts’ expectations of $363.24 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that Federated Hermes will post 2.76 EPS for the current year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 8th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.18%. Federated Hermes’s dividend payout ratio is currently 40.15%.

Insider Activity at Federated Hermes

In related news, VP John B. Fisher sold 33,312 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $33.70, for a total value of $1,122,614.40. Following the transaction, the vice president now directly owns 538,115 shares of the company’s stock, valued at approximately $18,134,475.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP John B. Fisher sold 33,312 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $33.70, for a total value of $1,122,614.40. Following the transaction, the vice president now directly owns 538,115 shares of the company’s stock, valued at approximately $18,134,475.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 971 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $33.78, for a total value of $32,800.38. Following the completion of the transaction, the vice president now directly owns 342,164 shares in the company, valued at $11,558,299.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,019 shares of company stock valued at $2,257,547. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Federated Hermes

A number of hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC purchased a new stake in Federated Hermes during the 2nd quarter valued at $66,000. US Bancorp DE raised its stake in Federated Hermes by 86.1% during the 2nd quarter. US Bancorp DE now owns 11,359 shares of the company’s stock valued at $361,000 after buying an additional 5,256 shares during the last quarter. Kendall Capital Management raised its stake in Federated Hermes by 8.5% during the 2nd quarter. Kendall Capital Management now owns 17,485 shares of the company’s stock valued at $556,000 after buying an additional 1,375 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Federated Hermes by 20.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 35,580 shares of the company’s stock valued at $1,129,000 after buying an additional 5,970 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Federated Hermes by 3.6% during the 2nd quarter. National Bank of Canada FI now owns 12,942 shares of the company’s stock valued at $411,000 after buying an additional 448 shares during the last quarter. 84.07% of the stock is currently owned by hedge funds and other institutional investors.

About Federated Hermes

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Federated Hermes, Inc is a publicly owned asset management holding company. 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.

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