Federated Hermes (NYSE:FHI) Announces Earnings Results

Federated Hermes (NYSE:FHI) posted its quarterly earnings data on Thursday. The company reported $0.89 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $400.26 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year.

Federated Hermes Stock Down 4.0 %

Federated Hermes stock traded down $1.35 during midday trading on Friday, hitting $32.80. 1,806,404 shares of the company’s stock were exchanged, compared to its average volume of 780,194. The company has a market cap of $2.77 billion, a PE ratio of 9.32, a P/E/G ratio of 0.80 and a beta of 1.12. The firm has a 50-day moving average of $35.59 and a two-hundred day moving average of $34.10. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $42.57. 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 Increases Dividend

The firm also recently announced a None dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a dividend of $1.31 per share. This is a boost from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date is Tuesday, May 7th. Federated Hermes’s dividend payout ratio is presently 31.82%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Meter Stephen Van sold 1,660 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the sale, the vice president now directly owns 31,689 shares of the company’s stock, valued at $1,145,557.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FHI shares. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. UBS Group upped 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. JPMorgan Chase & Co. upped 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 Wednesday, April 17th. Finally, TD Cowen began coverage on shares of Federated Hermes in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.50.

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.