Federated Hermes (NYSE:FHI) Issues Quarterly Earnings Results, Hits Estimates

Federated Hermes (NYSE:FHI) posted its quarterly earnings data on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89, Briefing.com reports. Federated Hermes had a net margin of 18.75% and a return on equity of 27.16%. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year.

Federated Hermes Price Performance

NYSE FHI traded down $1.35 on Friday, hitting $32.80. The stock had a trading volume of 1,806,404 shares, compared to its average volume of 780,194. The firm has a 50-day moving average of $35.59 and a 200-day moving average of $34.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. Federated Hermes has a 52-week low of $30.23 and a 52-week high of $42.57. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12.

Federated Hermes Increases Dividend

The company also recently declared a None dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be issued a $1.31 dividend. This is an increase from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date of this dividend is Tuesday, May 7th. Federated Hermes’s dividend payout ratio is presently 31.82%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FHI. UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Royal Bank of Canada upped their price target on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, TD Cowen assumed coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the transaction, the vice president now directly owns 276,084 shares in the company, valued at approximately $9,994,240.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The transaction was disclosed in a filing with the SEC, which is accessible 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 completion of 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. Insiders sold 115,435 shares of company stock worth $4,092,831 in the last three months. 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.