Hourglass Capital LLC Grows Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

Hourglass Capital LLC raised its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 194,618 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Federated Hermes makes up 1.9% of Hourglass Capital LLC’s investment portfolio, making the stock its 21st biggest holding. Hourglass Capital LLC owned 0.23% of Federated Hermes worth $6,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Federated Hermes in the 4th quarter worth $679,000. National Bank of Canada FI lifted its position in Federated Hermes by 29.1% in the fourth quarter. National Bank of Canada FI now owns 14,030 shares of the company’s stock valued at $474,000 after purchasing an additional 3,165 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Federated Hermes by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 479,008 shares of the company’s stock valued at $16,219,000 after purchasing an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets increased its position in Federated Hermes by 111.4% during the 4th quarter. BNP Paribas Financial Markets now owns 21,628 shares of the company’s stock worth $732,000 after purchasing an additional 11,396 shares during the period. Finally, Jump Financial LLC increased its position in Federated Hermes by 45.8% during the 4th quarter. Jump Financial LLC now owns 57,100 shares of the company’s stock worth $1,933,000 after purchasing an additional 17,926 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on FHI. Evercore ISI decreased their price target on Federated Hermes from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. UBS Group reduced their price objective on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, TD Cowen reduced their price target on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Hold” and a consensus target price of $37.67.

Federated Hermes Stock Performance

Shares of FHI opened at $34.59 on Friday. Federated Hermes, Inc. has a 12-month low of $30.23 and a 12-month high of $37.10. The stock has a market cap of $2.91 billion, a P/E ratio of 9.80, a PEG ratio of 1.34 and a beta of 1.16. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $33.73 and a two-hundred day moving average of $34.03.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. Federated Hermes’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, research analysts predict that Federated Hermes, Inc. will post 3.62 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.31 per share. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.58%. Federated Hermes’s dividend payout ratio (DPR) is 35.23%.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the transaction, the vice president now owns 298,578 shares in the company, valued at approximately $9,384,306.54. The disclosure for this sale can be found here. Insiders sold a total of 80,896 shares of company stock valued at $2,644,911 over the last quarter. Company insiders own 3.70% of the company’s stock.

About Federated Hermes

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.