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

Federated Hermes, Inc. (NYSE:FHI) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be given a dividend of 0.31 per share on Friday, February 14th. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, February 7th.

Federated Hermes has increased its dividend payment by an average of 3.9% annually over the last three years. Federated Hermes has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Federated Hermes to earn $4.13 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 30.0%.

Federated Hermes Stock Performance

NYSE FHI traded up $0.02 during trading on Friday, hitting $39.77. 1,786,349 shares of the company’s stock traded hands, compared to its average volume of 716,945. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.46 and a beta of 1.16. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92. The business has a 50 day moving average of $40.75 and a 200-day moving average of $37.90.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. As a group, equities research analysts anticipate that Federated Hermes will post 3.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

FHI has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $46.00 in a research report on Monday, October 28th. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. UBS Group lifted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.17.

Insider Buying and Selling at Federated Hermes

In other news, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total value of $261,212.29. Following the sale, the vice president now directly owns 310,767 shares in the company, valued at approximately $12,862,646.13. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 4,454 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total value of $184,306.52. Following the transaction, the chief executive officer now directly owns 184,642 shares in the company, valued at $7,640,485.96. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,280 shares of company stock valued at $986,421 in the last quarter. Company insiders own 3.70% of the company’s stock.

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.