Federated Hermes (NYSE:FHI) Issues Quarterly Earnings Results

Federated Hermes (NYSE:FHI) issued its quarterly earnings data on Thursday. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07, Briefing.com reports. Federated Hermes had a return on equity of 27.91% and a net margin of 15.90%. The company had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis.

Federated Hermes Trading Down 1.0 %

Shares of NYSE FHI traded down $0.37 during trading hours on Friday, reaching $35.06. The stock had a trading volume of 1,192,221 shares, compared to its average volume of 517,661. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.36 and a beta of 1.17. The business’s fifty day moving average price is $33.02 and its two-hundred day moving average price is $34.28. Federated Hermes has a 52-week low of $30.23 and a 52-week high of $37.10.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be issued a $0.31 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.54%. Federated Hermes’s payout ratio is presently 35.23%.

Insider Activity at Federated Hermes

In related news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the sale, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the sale, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 975 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the sale, the vice president now owns 299,572 shares of the company’s stock, valued at approximately $9,885,876. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,361 shares of company stock worth $76,360. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FHI shares. JPMorgan Chase & Co. boosted their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI cut their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. TD Cowen cut their target price on Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.