Continental Advisors LLC Cuts Position in Federated Hermes, Inc. (NYSE:FHI)

Continental Advisors LLC lowered its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,859 shares of the company's stock after selling 12,608 shares during the quarter. Federated Hermes makes up approximately 3.4% of Continental Advisors LLC's holdings, making the stock its 7th biggest position. Continental Advisors LLC owned about 0.22% of Federated Hermes worth $7,312,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Federated Hermes during the 4th quarter worth about $43,000. Sound Income Strategies LLC bought a new stake in shares of Federated Hermes during the 4th quarter worth about $53,000. GAMMA Investing LLC boosted its stake in Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock valued at $70,000 after purchasing an additional 646 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Federated Hermes during the 4th quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp boosted its stake in Federated Hermes by 112.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock valued at $109,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Performance

Federated Hermes stock traded up $1.74 during trading hours on Friday, hitting $40.04. The stock had a trading volume of 1,692,711 shares, compared to its average volume of 730,635. The company has a 50-day moving average of $38.60 and a two-hundred day moving average of $39.67. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.26 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92.

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 for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The firm had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.34 per share. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, May 8th. Federated Hermes's dividend payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

FHI has been the subject of several recent analyst reports. StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 1st. Royal Bank of Canada decreased their target price on Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 28th. UBS Group increased their target price on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Finally, Evercore ISI cut 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 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, Federated Hermes presently has an average rating of "Hold" and a consensus price target of $41.17.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company's stock.

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.