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

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Investors of record on Friday, February 7th will be paid a dividend of 0.31 per share on Friday, February 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, February 7th.

Federated Hermes has raised its dividend by an average of 3.9% per year over the last three years. Federated Hermes has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Federated Hermes to earn $4.48 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 27.7%.

Federated Hermes Trading Down 0.9 %

FHI opened at $39.31 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $40.57 and its two-hundred day moving average is $38.06. The company has a market capitalization of $3.22 billion, a P/E ratio of 12.32, a PEG ratio of 1.47 and a beta of 1.16. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Analysts forecast that Federated Hermes will post 4.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. TD Cowen raised 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. UBS Group boosted their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday. Finally, StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $42.00.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 4,454 shares of the 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 sale, the chief executive officer now directly owns 184,642 shares of the company’s stock, valued at approximately $7,640,485.96. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total value of $56,523.61. Following the completion of the sale, the insider now owns 53,837 shares in the company, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,128 shares of company stock valued at $502,042. Corporate 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.