Bank of Montreal Can Sells 315,968 Shares of Federated Hermes, Inc. (NYSE:FHI)

Bank of Montreal Can reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 97.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Federated Hermes in the 4th quarter worth about $43,000. Sound Income Strategies LLC bought a new stake in Federated Hermes in the fourth quarter valued at about $53,000. GAMMA Investing LLC raised its stake in Federated Hermes by 60.9% during the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock valued at $70,000 after buying an additional 646 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Federated Hermes in the 4th quarter worth approximately $73,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Federated Hermes by 112.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock valued at $109,000 after acquiring an additional 1,400 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Price Performance

Shares of FHI stock traded up $1.74 on Friday, hitting $40.04. 1,692,711 shares of the company's stock were exchanged, compared to its average volume of 730,635. 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 company has a 50 day moving average of $38.60 and a 200 day moving average of $39.65. The stock has a market cap of $3.26 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The company had revenue of $423.54 million for the quarter, compared to analyst estimates of $425.43 million. On average, equities research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be issued a dividend of $0.34 per share. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.40%. Federated Hermes's dividend payout ratio (DPR) is 38.87%.

Insider Buying and Selling

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FHI shares. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Evercore ISI cut their target price on Federated Hermes from $42.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. StockNews.com lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 1st. Royal Bank of Canada reduced 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.17.

About Federated Hermes

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.