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

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.31 per share on Friday, November 15th. This represents a $1.24 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 8th.

Federated Hermes has increased its dividend by an average of 0.9% annually over the last three years. Federated Hermes has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Federated Hermes to earn $4.15 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 29.9%.

Federated Hermes Stock Up 3.5 %

Shares of FHI opened at $41.86 on Thursday. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.15 and a beta of 1.15. Federated Hermes has a 52 week low of $31.08 and a 52 week high of $42.56. 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 business’s fifty day moving average price is $36.87 and its two-hundred day moving average price is $34.47.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. On average, analysts predict that Federated Hermes will post 3.83 earnings per share for the current year.

Insider Buying and Selling at Federated Hermes

In other news, VP Dolores D. Dudiak sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Dolores D. Dudiak sold 5,000 shares of Federated Hermes stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now directly owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of Federated Hermes stock in a transaction on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the sale, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on FHI shares. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Royal Bank of Canada lifted their price target on Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. UBS Group increased their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Federated Hermes currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.