Federated Hermes (NYSE:FHI) Price Target Raised to $63.00

Federated Hermes (NYSE:FHI) had its target price lifted by stock analysts at Royal Bank Of Canada from $60.00 to $63.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 0.68% from the company’s current price.

FHI has been the subject of several other research reports. TD Cowen raised their price target on shares of Federated Hermes from $56.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Wall Street Zen lowered Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Evercore reissued an “outperform” rating and issued a $65.00 target price on shares of Federated Hermes in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $58.00 target price on shares of Federated Hermes in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.80.

Federated Hermes Stock Performance

Shares of Federated Hermes stock traded up $0.01 during trading hours on Tuesday, hitting $62.57. 10,228 shares of the company’s stock traded hands, compared to its average volume of 714,268. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.50 and a beta of 0.66. Federated Hermes has a 12-month low of $47.30 and a 12-month high of $67.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. The company has a fifty day simple moving average of $58.59 and a 200-day simple moving average of $57.43.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The company had revenue of $507.33 million for the quarter, compared to the consensus estimate of $504.91 million. During the same period in the previous year, the firm earned $1.34 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Federated Hermes will post 5.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Federated Hermes

Several institutional investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC increased its holdings in shares of Federated Hermes by 2.3% in the third quarter. Kestra Private Wealth Services LLC now owns 10,096 shares of the company’s stock worth $569,000 after purchasing an additional 227 shares during the period. Richardson Financial Services Inc. boosted its stake in Federated Hermes by 125.1% during the third quarter. Richardson Financial Services Inc. now owns 752 shares of the company’s stock valued at $42,000 after buying an additional 418 shares during the period. Gallacher Capital Management LLC boosted its stake in Federated Hermes by 7.9% during the third quarter. Gallacher Capital Management LLC now owns 5,115 shares of the company’s stock valued at $288,000 after buying an additional 374 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Federated Hermes during the third quarter valued at $3,823,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Federated Hermes by 7.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 55,300 shares of the company’s stock worth $3,117,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.