Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 97.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,637 shares of the company’s stock after selling 315,968 shares during the quarter. Bank of Montreal Can’s holdings in Federated Hermes were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Federated Hermes in the 4th quarter worth about $292,000. Inspire Investing LLC acquired a new position in Federated Hermes during the fourth quarter worth approximately $829,000. Charles Schwab Investment Management Inc. raised its stake in Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock worth $37,618,000 after purchasing an additional 145,878 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Federated Hermes in the 4th quarter valued at $461,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Federated Hermes in the 4th quarter worth $585,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Up 1.7 %

Federated Hermes stock opened at $37.85 on Thursday. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The stock has a market capitalization of $3.08 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. The firm has a 50 day simple moving average of $38.58 and a 200-day simple moving average of $39.58.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. As a group, equities research analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s payout ratio is presently 38.87%.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of several research analyst reports. UBS Group lifted their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Royal Bank of Canada lowered their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 1st. Finally, Evercore ISI decreased their price target on Federated Hermes from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.17.

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.