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

Royal Bank of Canada lessened its holdings in Federated Hermes, Inc. (NYSE:FHI) by 41.6% during the first quarter, HoldingsChannel.com reports. The firm owned 43,083 shares of the company’s stock after selling 30,710 shares during the period. Royal Bank of Canada’s holdings in Federated Hermes were worth $2,443,000 as of its most recent SEC filing.

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

Federated Hermes Stock Down 0.1%

Federated Hermes stock opened at $64.09 on Monday. The firm has a market capitalization of $4.78 billion, a PE ratio of 11.91, a P/E/G ratio of 1.50 and a beta of 0.65. The company’s 50-day moving average is $59.25 and its 200-day moving average is $56.99. Federated Hermes, Inc. has a fifty-two week low of $46.66 and a fifty-two week 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.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The company had revenue of $502.78 million for the quarter, compared to analysts’ expectations of $488.34 million. During the same period in the prior year, the firm earned $1.16 EPS. Federated Hermes’s quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that Federated Hermes, Inc. will post 5.43 earnings per share for the current year.

Federated Hermes Dividend Announcement

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

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total value of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares in the company, 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 link. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FHI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a report on Monday, August 3rd. JPMorgan Chase & Co. dropped their target price on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Royal Bank Of Canada raised their price target on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, July 2nd. Finally, Evercore reaffirmed an “outperform” rating and set a $65.00 price target on shares of Federated Hermes in a research report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.40.

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.