27,150 Federated Hermes, Inc. $FHI Shares Sold by Hourglass Capital LLC

Key Points

• Hourglass Capital LLC cut its Federated Hermes stake by 70.2% in the third quarter, selling 27,150 shares and retaining 11,500 shares valued at approximately $648,000.
• Analyst sentiment is mixed but leans toward “Hold”, with a consensus price target of $57.80; shares recently opened at $56.95.
• Federated Hermes reported quarterly EPS of $1.38, exceeding estimates, while revenue rose 18.3% year over year to $502.78 million. The company also pays a quarterly dividend of $0.38, representing a 2.7% annualized yield.

Hourglass Capital LLC trimmed its position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 70.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,500 shares of the company's stock after selling 27,150 shares during the period. Hourglass Capital LLC's holdings in Federated Hermes were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHI. Root Financial Partners LLC bought a new stake in Federated Hermes in the third quarter worth $32,000. Rockefeller Capital Management L.P. lifted its position in Federated Hermes by 24.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company's stock valued at $52,000 after purchasing an additional 194 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Federated Hermes in the 2nd quarter worth $85,000. EverSource Wealth Advisors LLC grew its stake in shares of Federated Hermes by 66.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,012 shares of the company's stock worth $171,000 after buying an additional 1,205 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new position in shares of Federated Hermes in the 2nd quarter worth $196,000. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FHI has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $58.00 target price on shares of Federated Hermes in a research report on Monday, August 3rd. Zacks Research lowered Federated Hermes from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 9th. Weiss Ratings raised Federated Hermes from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, October 9th. Evercore restated an "outperform" rating and set a $65.00 price objective on shares of Federated Hermes in a research report on Monday, August 10th. Finally, TD Cowen lowered their price objective on Federated Hermes from $60.00 to $56.00 and set a "hold" rating for the company in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $57.80.

Federated Hermes Trading Up 0.2%

Shares of FHI opened at $56.95 on Tuesday. Federated Hermes, Inc. has a twelve month low of $46.66 and a twelve month high of $67.20. The company has a market cap of $4.25 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.50 and a beta of 0.66. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28. The company's fifty day simple moving average is $59.26 and its 200-day simple moving average is $57.26.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.19. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The firm had revenue of $502.78 million during the quarter, compared to analyst estimates of $488.34 million. During the same quarter last year, the business earned $1.16 EPS. The business's revenue was up 18.3% on a year-over-year basis. As a group, analysts expect that Federated Hermes, Inc. will post 5.51 EPS for the current year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.52 annualized dividend and a yield of 2.7%. Federated Hermes's dividend payout ratio (DPR) is presently 28.25%.

Federated Hermes Profile

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.

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