Bank of Montreal Can Boosts Position in Federated Hermes, Inc. (NYSE:FHI)

Bank of Montreal Can grew its position in Federated Hermes, Inc. (NYSE:FHI) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,605 shares of the company’s stock after buying an additional 41,610 shares during the period. Bank of Montreal Can owned 0.40% of Federated Hermes worth $12,007,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FHI. AQR Capital Management LLC increased its position in shares of Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company’s stock valued at $87,866,000 after acquiring an additional 1,261,097 shares during the last quarter. LSV Asset Management acquired a new stake in Federated Hermes in the second quarter valued at approximately $11,913,000. Assenagon Asset Management S.A. increased its position in shares of Federated Hermes by 39.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company’s stock valued at $37,555,000 after purchasing an additional 324,958 shares during the last quarter. AXA S.A. acquired a new stake in Federated Hermes in the second quarter valued at $6,200,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Federated Hermes by 24.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock worth $28,282,000 after buying an additional 152,926 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FHI has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. UBS Group increased their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price target on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Stock Down 0.2 %

Shares of NYSE:FHI opened at $42.75 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The stock has a market cap of $3.50 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.19 and a beta of 1.15. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.23. The firm has a fifty day moving average price of $39.37 and a 200 day moving average price of $35.54.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. Sell-side analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, November 8th. Federated Hermes’s payout ratio is currently 39.87%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,280 shares of company stock worth $1,185,871 over the last 90 days. 3.70% of the stock is currently owned by insiders.

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.