Federated Hermes, Inc. (NYSE:FHI) Declares Dividend Increase – $1.31 Per Share

Federated Hermes, Inc. (NYSE:FHI) declared a None dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 1.31 per share on Wednesday, May 15th. This represents a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 7th. This is a positive change from Federated Hermes’s previous None dividend of $1.27.

Federated Hermes has increased its dividend by an average of 0.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Federated Hermes has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Federated Hermes to earn $4.02 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 30.8%.

Federated Hermes Stock Down 0.3 %

NYSE FHI opened at $32.89 on Monday. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. Federated Hermes has a 52 week low of $30.23 and a 52 week high of $40.30. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.93 and a beta of 1.14. The company has a fifty day moving average of $35.35 and a two-hundred day moving average of $34.09.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The firm had revenue of $396.37 million during the quarter, compared to analysts’ expectations of $400.26 million. During the same period in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that Federated Hermes will post 3.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. UBS Group raised their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Evercore ISI lowered their price objective on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and an average target price of $38.29.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 8,302 shares of Federated Hermes stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the transaction, the chief executive officer now directly owns 178,176 shares in the company, valued at approximately $6,441,062.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the transaction, the vice president now directly owns 289,904 shares in the company, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,775 shares of company stock worth $4,032,822. 3.70% of the stock is currently owned by corporate insiders.

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.