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

Federated Hermes, Inc. (NYSE:FHI) declared a quarterly dividend on Thursday, October 24th, NASDAQ reports. Investors of record on Friday, November 8th will be paid a dividend of 0.31 per share on Friday, November 15th. This represents a $1.24 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, November 8th.

Federated Hermes has increased its dividend payment by an average of 0.9% annually over the last three years. Federated Hermes has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Federated Hermes to earn $4.15 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 29.9%.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $40.43 on Wednesday. The firm’s 50 day moving average is $36.71 and its two-hundred day moving average is $34.42. Federated Hermes has a 52 week low of $31.08 and a 52 week high of $40.65. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.31 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.17 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. During the same quarter last year, the business posted $0.86 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts forecast that Federated Hermes will post 3.83 EPS for the current fiscal year.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the transaction, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at approximately $7,138,766.56. This 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 this hyperlink. Also, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Evercore ISI boosted their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.