Federated Hermes (NYSE:FHI) Announces Earnings Results

Federated Hermes (NYSE:FHI) posted its quarterly earnings data on Thursday. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07, Briefing.com reports. The firm had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS.

Federated Hermes Trading Down 1.0 %

FHI stock traded down $0.37 on Friday, reaching $35.06. The company’s stock had a trading volume of 1,192,221 shares, compared to its average volume of 764,288. The business has a fifty day simple moving average of $33.02 and a two-hundred day simple moving average of $34.27. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $37.10. The firm has a market cap of $2.95 billion, a PE ratio of 9.96, a PEG ratio of 1.35 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39.

Federated Hermes Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FHI. Evercore ISI cut their price target on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. TD Cowen cut their price target on shares of Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, UBS Group cut their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction 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 transaction, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction dated 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 directly owns 298,578 shares in the company, valued at approximately $9,384,306.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul A. Uhlman sold 975 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the completion of the transaction, the vice president now directly owns 299,572 shares in the company, valued at $9,885,876. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is owned by corporate insiders.

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.