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

Federated Hermes, Inc. (NYSE:FHI) announced a None dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 8th will be paid a dividend of 1.31 per share on Wednesday, May 15th. The ex-dividend date of this dividend 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 payment by an average of 0.9% annually over the last three years and has raised its dividend every year for the last 1 years. Federated Hermes has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Federated Hermes to earn $4.14 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 27.1%.

Federated Hermes Price Performance

Shares of FHI stock traded down $1.35 during trading on Friday, hitting $32.80. The company had a trading volume of 1,806,404 shares, compared to its average volume of 780,194. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. The firm has a market capitalization of $2.77 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12. The stock’s 50-day moving average price is $35.59 and its 200 day moving average price is $34.10. Federated Hermes has a one year low of $30.23 and a one year high of $42.57.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $396.37 million during the quarter, compared to analysts’ expectations of $400.26 million. Federated Hermes had a return on equity of 27.16% and a net margin of 18.75%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. Equities analysts expect that Federated Hermes will post 3.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FHI. UBS Group boosted their price target on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TD Cowen started coverage on Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price for the company. Royal Bank of Canada upped their target price 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. Finally, JPMorgan Chase & Co. upped their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Three research 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 has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Insider Transactions at Federated Hermes

In other news, VP Meter Stephen Van sold 1,660 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now directly owns 31,689 shares in the company, valued at $1,145,557.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Meter Stephen Van sold 1,660 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now directly owns 31,689 shares in the company, valued at $1,145,557.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,435 shares of company stock worth $4,092,831. Corporate insiders own 3.70% of the company’s stock.

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.