Interval Partners LP Purchases 236,365 Shares of Federated Hermes, Inc. $FHI

Key Points

• Interval Partners LP increased its stake in Federated Hermes by 136.1%, acquiring an additional 236,365 shares, bringing its total ownership to approximately 0.52% of the company's stock worth $16.7 million.
• Federated Hermes posted a quarterly earnings report with an EPS of $1.16, exceeding the consensus estimate of $0.99, along with a revenue of $424.84 million.
• The company's recent dividend payout was $0.34 per share, resulting in a dividend yield of 2.5% and a payout ratio of 30.16%.

Interval Partners LP grew its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 136.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 409,975 shares of the company's stock after acquiring an additional 236,365 shares during the quarter. Interval Partners LP owned about 0.52% of Federated Hermes worth $16,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FHI. Charles Schwab Investment Management Inc. grew its holdings in shares of Federated Hermes by 249.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock worth $130,446,000 after purchasing an additional 2,284,509 shares during the period. Invenomic Capital Management LP purchased a new position in Federated Hermes in the 1st quarter worth approximately $11,696,000. Jacobs Levy Equity Management Inc. purchased a new position in Federated Hermes in the 1st quarter worth approximately $11,208,000. Vanguard Group Inc. boosted its stake in shares of Federated Hermes by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock valued at $357,178,000 after buying an additional 265,590 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Federated Hermes by 27.1% during the 1st quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock valued at $45,136,000 after buying an additional 236,313 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.

Federated Hermes Stock Performance

Shares of FHI stock traded up $0.31 during trading on Wednesday, reaching $52.86. The company had a trading volume of 136,869 shares, compared to its average volume of 799,808. The firm's 50 day simple moving average is $50.22 and its two-hundred day simple moving average is $43.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes, Inc. has a one year low of $33.38 and a one year high of $54.42. The company has a market capitalization of $4.10 billion, a PE ratio of 11.72, a PEG ratio of 0.71 and a beta of 0.84.

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

Federated Hermes Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FHI. JPMorgan Chase & Co. raised Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price target for the company from $40.00 to $54.00 in a research report on Monday, August 4th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada raised their target price on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Finally, Evercore ISI raised their target price on Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.17.

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.