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

Federated Hermes (NYSE:FHI) had its price objective lowered by analysts at Royal Bank of Canada from $42.00 to $39.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential downside of 0.08% from the company’s previous close.

FHI has been the subject of several other reports. Evercore ISI boosted their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. UBS Group lifted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.17.

Federated Hermes Price Performance

FHI opened at $39.03 on Tuesday. 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 $3.19 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16. The company’s 50 day simple moving average is $40.86 and its 200-day simple moving average is $37.84. Federated Hermes has a one year low of $31.24 and a one year high of $43.92.

Insider Buying and Selling

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $7,138,766.56. The trade was a 6.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 $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. In the last three months, insiders have sold 29,280 shares of company stock valued at $1,185,871. 3.70% of the stock is owned by insiders.

Institutional Trading of Federated Hermes

Hedge funds have recently made changes to their positions in the company. Meritage Portfolio Management grew its position in shares of Federated Hermes by 12.4% in the 4th quarter. Meritage Portfolio Management now owns 11,441 shares of the company’s stock valued at $470,000 after buying an additional 1,261 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in shares of Federated Hermes in the fourth quarter worth approximately $207,000. Waldron Private Wealth LLC boosted its holdings in Federated Hermes by 105.9% in the fourth quarter. Waldron Private Wealth LLC now owns 14,637 shares of the company’s stock valued at $602,000 after acquiring an additional 7,528 shares during the last quarter. R Squared Ltd bought a new stake in Federated Hermes in the fourth quarter valued at approximately $43,000. Finally, KBC Group NV raised its holdings in Federated Hermes by 87.8% during the 4th quarter. KBC Group NV now owns 3,351 shares of the company’s stock worth $138,000 after purchasing an additional 1,567 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

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.