Congress Wealth Management LLC DE Has $284,000 Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Congress Wealth Management LLC DE reduced its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 64.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in Federated Hermes by 24.5% during the fourth quarter. LPL Financial LLC now owns 19,301 shares of the company’s stock worth $793,000 after purchasing an additional 3,792 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Federated Hermes during the 4th quarter worth about $1,739,000. Sei Investments Co. grew its holdings in shares of Federated Hermes by 776.6% in the 4th quarter. Sei Investments Co. now owns 112,018 shares of the company’s stock valued at $4,605,000 after acquiring an additional 99,240 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Federated Hermes by 6.4% in the fourth quarter. Teacher Retirement System of Texas now owns 264,841 shares of the company’s stock valued at $10,888,000 after acquiring an additional 16,033 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Federated Hermes during the fourth quarter worth about $317,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Price Performance

NYSE:FHI opened at $40.70 on Friday. The company has a market cap of $3.31 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.00 and a beta of 1.10. The firm’s fifty day moving average price is $38.95 and its two-hundred day moving average price is $39.38. Federated Hermes, Inc. has a one year low of $31.24 and a one year 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.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating 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%. Equities analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a yield of 3.05%. Federated Hermes’s dividend payout ratio (DPR) is presently 38.87%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $6,950,715.76. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FHI shares. JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 price target (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Royal Bank of Canada decreased their target price on shares of 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 upped 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 reissued a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Finally, Evercore ISI set a $44.00 target price on shares of Federated Hermes in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes 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.