Congress Wealth Management LLC DE Sells 12,382 Shares of Federated Hermes, Inc. (NYSE:FHI)

Congress Wealth Management LLC DE lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 64.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,907 shares of the company’s stock after selling 12,382 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Federated Hermes were worth $284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth approximately $292,000. Inspire Investing LLC bought a new position in Federated Hermes in the 4th quarter worth approximately $829,000. Charles Schwab Investment Management Inc. lifted 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 in the last quarter. Sanctuary Advisors LLC boosted its position in Federated Hermes by 78.5% in the 4th quarter. Sanctuary Advisors LLC now owns 23,046 shares of the company’s stock valued at $916,000 after buying an additional 10,135 shares during the last quarter. Finally, Fortis Advisors LLC acquired a new stake in shares of Federated Hermes in the 4th quarter valued at $727,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FHI. Royal Bank of Canada cut their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. UBS Group lifted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.17.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Federated Hermes Stock Down 1.3 %

Federated Hermes stock opened at $40.70 on Friday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.00 and a beta of 1.10. The company’s 50 day simple moving average is $38.95 and its 200 day simple moving average is $39.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. 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) last posted its earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.31 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a yield of 3.05%. Federated Hermes’s payout ratio is 38.87%.

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.