Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,410 shares of the company’s stock after selling 9,890 shares during the quarter. Federated Hermes makes up approximately 2.1% of Hourglass Capital LLC’s portfolio, making the stock its 15th biggest position. Hourglass Capital LLC’s holdings in Federated Hermes were worth $7,581,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FHI. State of Alaska Department of Revenue grew its holdings in Federated Hermes by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after acquiring an additional 275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Federated Hermes by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company’s stock valued at $612,000 after buying an additional 340 shares during the period. MBM Wealth Consultants LLC grew its position in shares of Federated Hermes by 6.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after purchasing an additional 474 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Federated Hermes by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock valued at $914,000 after acquiring an additional 560 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Federated Hermes by 60.9% in the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock valued at $70,000 after purchasing an additional 646 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FHI. TD Cowen raised shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada dropped their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reaffirmed 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.00.

Insider Activity at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,311 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the completion of the transaction, the vice president now owns 310,767 shares of the company’s stock, valued at approximately $12,862,646.13. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $6,950,715.76. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,674 shares of company stock worth $717,283 in the last quarter. 3.70% of the stock is owned by company insiders.

Federated Hermes Trading Up 0.6 %

Shares of FHI stock opened at $38.62 on Friday. The stock has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $38.25. The stock has a market capitalization of $3.16 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.02 and a beta of 1.16. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. On average, sell-side analysts expect that Federated Hermes, Inc. will post 4.09 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio is 38.87%.

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.