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

Bank of Montreal Can cut its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 97.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its position in Federated Hermes by 4.5% in the fourth quarter. FMR LLC now owns 5,919,888 shares of the company's stock worth $243,367,000 after acquiring an additional 253,553 shares in the last quarter. Geode Capital Management LLC raised its holdings in Federated Hermes by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock worth $52,731,000 after buying an additional 32,070 shares during the period. Bank of New York Mellon Corp raised its holdings in Federated Hermes by 53.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock worth $52,493,000 after buying an additional 446,683 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after buying an additional 145,878 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Federated Hermes by 51.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock worth $33,645,000 after buying an additional 278,524 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FHI has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday. Royal Bank of Canada cut their price objective on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. restated an "underweight" rating and set a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. UBS Group upped their target price on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $41.67.

Federated Hermes Stock Up 0.2 %

Shares of FHI traded up $0.08 during trading hours on Tuesday, reaching $39.94. The company's stock had a trading volume of 31,685 shares, compared to its average volume of 729,758. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.00 and a beta of 0.84. The company has a 50 day moving average of $38.63 and a two-hundred day moving average of $39.69. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. The business had revenue of $423.54 million during the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be paid a $0.34 dividend. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.41%. Federated Hermes's payout ratio is presently 38.31%.

Insider Activity at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was 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 of the company's stock, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by company insiders.

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.