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Interval Partners LP Cuts Stock Holdings in Federated Hermes, Inc. (NYSE:FHI)

Defense World · Sep 10, 2022 06:42

Interval Partners LP decreased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 30.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 201,341 shares of the company's stock after selling 89,736 shares during the period. Interval Partners LP owned 0.22% of Federated Hermes worth $6,858,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. S&T Bank PA increased its position in Federated Hermes by 0.5% during the 4th quarter. S&T Bank PA now owns 77,487 shares of the company's stock valued at $2,912,000 after purchasing an additional 398 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of Federated Hermes by 2.3% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 20,615 shares of the company's stock worth $702,000 after buying an additional 472 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Federated Hermes by 2.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the company's stock worth $822,000 after buying an additional 500 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Federated Hermes by 6.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,991 shares of the company's stock worth $300,000 after buying an additional 505 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Federated Hermes by 10.3% in the 1st quarter. Mackenzie Financial Corp now owns 6,647 shares of the company's stock worth $226,000 after buying an additional 619 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

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Federated Hermes Stock Up 0.3 %

NYSE:FHI opened at $35.45 on Friday. The company has a market cap of $3.16 billion, a PE ratio of 13.18 and a beta of 1.10. Federated Hermes, Inc. has a twelve month low of $27.88 and a twelve month high of $39.82. The company has a current ratio of 2.71, a quick ratio of 1.84 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $34.12 and its two-hundred day moving average is $32.77.

Federated Hermes (NYSE:FHI – Get Rating) last released its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $366.01 million for the quarter, compared to the consensus estimate of $363.24 million. Federated Hermes had a net margin of 18.93% and a return on equity of 24.12%. Federated Hermes's revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. Analysts anticipate that Federated Hermes, Inc. will post 2.79 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, August 5th. Federated Hermes's payout ratio is 40.15%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 7,000 shares of Federated Hermes stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $34.29, for a total transaction of $240,030.00. Following the completion of the sale, the chief executive officer now directly owns 272,814 shares in the company, valued at approximately $9,354,792.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 33,736 shares of company stock worth $1,102,132. Company insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

FHI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Federated Hermes from $37.00 to $36.00 in a research report on Wednesday, July 13th. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 2nd. Keefe, Bruyette & Woods raised shares of Federated Hermes from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $32.00 to $40.00 in a research report on Tuesday, June 28th. Finally, StockNews.com downgraded shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $32.90.

Federated Hermes Profile

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Federated Hermes, Inc is a publicly owned asset management holding company. 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.