Federated Hermes, Inc. Declares Quarterly Dividend of $0.31 (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI) declared a quarterly dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.31 per share on Friday, November 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, November 8th.

Federated Hermes has raised its dividend payment by an average of 0.9% per year over the last three years. Federated Hermes has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Federated Hermes to earn $4.00 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 31.0%.

Federated Hermes Stock Performance

FHI remained flat at $38.60 on Friday. 1,204,221 shares of the company were exchanged, compared to its average volume of 711,844. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $40.29. The company’s fifty day simple moving average is $35.74 and its 200 day simple moving average is $34.21. 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 market capitalization of $3.25 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. Sell-side analysts forecast that Federated Hermes will post 3.63 EPS for the current year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on FHI. TD Cowen dropped their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Evercore ISI upped their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. UBS Group boosted their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Federated Hermes Company Profile

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.