Federated Hermes (NYSE:FHI) Releases Earnings Results, Beats Estimates By $0.08 EPS

Federated Hermes (NYSE:FHI) released its earnings results on Thursday. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08, Zacks reports. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%.

Federated Hermes Trading Up 0.1 %

Shares of Federated Hermes stock opened at $39.77 on Friday. 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 cap of $3.25 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Federated Hermes has a 52-week low of $31.24 and a 52-week high of $43.92. The company’s 50-day simple moving average is $40.70 and its 200-day simple moving average is $37.94.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, February 7th. Federated Hermes’s payout ratio is 39.87%.

Insider Transactions at Federated Hermes

In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the completion of the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now directly owns 53,837 shares in the company, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,280 shares of company stock valued at $986,421. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FHI. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $42.00 price objective (down previously from $49.00) on shares of Federated Hermes in a research note on Tuesday, January 7th. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Evercore ISI increased their price target on Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.17.

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.