Interval Partners LP Sells 192,134 Shares of Federated Hermes, Inc. (NYSE:FHI)

Interval Partners LP cut its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 52.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,610 shares of the company's stock after selling 192,134 shares during the quarter. Interval Partners LP owned about 0.21% of Federated Hermes worth $7,137,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Quarry LP acquired a new position in Federated Hermes in the 4th quarter valued at $37,000. R Squared Ltd acquired a new position in shares of Federated Hermes during the 4th quarter worth $43,000. Sound Income Strategies LLC acquired a new position in shares of Federated Hermes during the 4th quarter worth $53,000. GAMMA Investing LLC raised its holdings in shares of Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock worth $70,000 after buying an additional 646 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Federated Hermes during the 4th quarter worth $73,000. 75.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on FHI. JPMorgan Chase & Co. reissued an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. UBS Group boosted their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Evercore ISI boosted their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, StockNews.com raised Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $42.33.

Federated Hermes Price Performance

FHI traded up $0.46 on Thursday, reaching $42.91. The stock had a trading volume of 1,040,167 shares, compared to its average volume of 730,943. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. The firm has a 50-day moving average of $39.48 and a 200-day moving average of $39.98. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $45.08.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The company had revenue of $423.54 million during the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be paid a $0.34 dividend. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. Federated Hermes's dividend payout ratio is presently 38.31%.

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.