Interval Partners LP Sells 103,709 Shares of Federated Hermes, Inc. (NYSE:FHI)

Interval Partners LP lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 306,145 shares of the company’s stock after selling 103,709 shares during the quarter. Interval Partners LP owned about 0.36% of Federated Hermes worth $10,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC raised its holdings in shares of Federated Hermes by 607.7% during the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after acquiring an additional 711 shares during the period. Mather Group LLC. acquired a new stake in shares of Federated Hermes in the 2nd quarter valued at about $47,000. Hexagon Capital Partners LLC lifted its holdings in shares of Federated Hermes by 30.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,358 shares of the company’s stock valued at $49,000 after purchasing an additional 317 shares in the last quarter. Neo Ivy Capital Management boosted its position in shares of Federated Hermes by 637.5% during the fourth quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after buying an additional 1,224 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group cut their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. TD Cowen cut their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Evercore ISI decreased their target price on shares of Federated Hermes from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, StockNews.com downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.67.

Federated Hermes Stock Down 1.1 %

Federated Hermes stock opened at $35.98 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The company’s 50-day moving average is $34.17 and its 200-day moving average is $33.95. The firm has a market capitalization of $3.03 billion, a PE ratio of 10.22, a P/E/G ratio of 1.33 and a beta of 1.16. Federated Hermes, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $37.10.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The firm had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same quarter in the previous year, the business earned $0.81 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Federated Hermes, Inc. will post 3.62 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.31 per share. This is an increase 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 yield of 3.45%. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

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.