Royal Bank of Canada Has $2.44 Million Holdings in Federated Hermes, Inc. $FHI

Royal Bank of Canada lessened its stake in Federated Hermes, Inc. (NYSE:FHI) by 41.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,083 shares of the company’s stock after selling 30,710 shares during the quarter. Royal Bank of Canada owned about 0.06% of Federated Hermes worth $2,443,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Federated Hermes by 1.7% in the 4th quarter. AQR Capital Management LLC now owns 3,036,239 shares of the company’s stock valued at $158,097,000 after acquiring an additional 50,067 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,032,060 shares of the company’s stock worth $157,879,000 after acquiring an additional 12,348 shares during the last quarter. Invesco Ltd. grew its holdings in Federated Hermes by 29.6% during the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after purchasing an additional 670,643 shares during the period. LSV Asset Management grew its holdings in Federated Hermes by 20.4% during the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after purchasing an additional 489,275 shares during the period. Finally, Schneider Downs Wealth Management Advisors LP increased its stake in Federated Hermes by 3,229.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock valued at $137,992,000 after purchasing an additional 2,577,442 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the completion of the transaction, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research report on Monday, August 3rd. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. TD Cowen reduced their target price on Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Finally, Evercore reissued an “outperform” rating and issued a $65.00 target price on shares of Federated Hermes in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.40.

Federated Hermes Trading Down 0.1%

Shares of NYSE:FHI opened at $64.09 on Monday. Federated Hermes, Inc. has a 12 month low of $46.66 and a 12 month high of $67.20. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $59.25 and its 200 day simple moving average is $56.99. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.50 and a beta of 0.65.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.19 by $0.19. The business had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. As a group, research analysts forecast that Federated Hermes, Inc. will post 5.43 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 7th. Federated Hermes’s payout ratio is 28.25%.

Federated Hermes Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.