Hourglass Capital LLC Sells 318 Shares of Federated Hermes, Inc. (NYSE:FHI)

Hourglass Capital LLC decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,300 shares of the company’s stock after selling 318 shares during the period. Federated Hermes accounts for about 2.0% of Hourglass Capital LLC’s holdings, making the stock its 17th largest holding. Hourglass Capital LLC owned about 0.24% of Federated Hermes worth $7,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. raised its position in Federated Hermes by 387.6% during the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock valued at $5,867,000 after purchasing an additional 126,840 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Federated Hermes in the 3rd quarter worth approximately $214,000. State of New Jersey Common Pension Fund D raised its position in shares of Federated Hermes by 1.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,530 shares of the company’s stock worth $2,152,000 after acquiring an additional 967 shares in the last quarter. Meritage Portfolio Management raised its position in shares of Federated Hermes by 9.3% in the 3rd quarter. Meritage Portfolio Management now owns 10,180 shares of the company’s stock worth $374,000 after acquiring an additional 870 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Federated Hermes in the 3rd quarter worth approximately $1,317,000. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Evercore ISI increased their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. UBS Group increased their target price on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Federated Hermes currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Federated Hermes Stock Performance

FHI stock opened at $41.64 on Thursday. The company has a market cap of $3.41 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.15. Federated Hermes, Inc. has a 1 year low of $31.08 and a 1 year high of $42.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The stock’s fifty day moving average price is $37.46 and its 200-day moving average price is $34.68.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. On average, equities analysts forecast that Federated Hermes, Inc. will post 3.83 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.98%. Federated Hermes’s dividend payout ratio (DPR) is currently 39.87%.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $7,138,766.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

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.