Hourglass Capital LLC Sells 48,600 Shares of Federated Hermes, Inc. $FHI

Key Points

• Hourglass Capital LLC reduced its stake in Federated Hermes, Inc. by 25.8%, selling 48,600 shares to hold a total of 140,075 shares, which represents 1.5% of its investment portfolio.
• Multiple institutional investors have recently increased their stakes in Federated Hermes, with 75.94% of the stock owned by institutional investors.
• Federated Hermes reported earnings of $1.16 per share for the last quarter, beating analysts' estimates, and has announced a quarterly dividend with a yield of 2.6%.

Hourglass Capital LLC cut its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 25.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,075 shares of the company's stock after selling 48,600 shares during the period. Federated Hermes accounts for about 1.5% of Hourglass Capital LLC's investment portfolio, making the stock its 25th biggest position. Hourglass Capital LLC owned approximately 0.18% of Federated Hermes worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FHI. Farther Finance Advisors LLC raised its stake in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after acquiring an additional 614 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Federated Hermes during the first quarter worth approximately $401,000. Ritholtz Wealth Management bought a new stake in shares of Federated Hermes during the first quarter worth approximately $1,283,000. Insigneo Advisory Services LLC bought a new stake in shares of Federated Hermes during the first quarter worth approximately $210,000. Finally, Blue Trust Inc. raised its stake in shares of Federated Hermes by 9.3% during the first quarter. Blue Trust Inc. now owns 5,314 shares of the company's stock worth $217,000 after buying an additional 453 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FHI shares. Zacks Research downgraded shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Royal Bank Of Canada boosted their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. Wall Street Zen cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Evercore ISI boosted their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Federated Hermes in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $48.33.

Federated Hermes Stock Down 0.6%

Federated Hermes stock opened at $52.10 on Thursday. The stock has a market capitalization of $4.04 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $54.42. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $52.58 and a 200-day moving average of $46.22.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.17. The business had revenue of $424.84 million during the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a yield of 2.6%. Federated Hermes's dividend payout ratio (DPR) is 30.16%.

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.

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