Federated Hermes, Inc. (FHI) To Go Ex-Dividend on May 7th

Federated Hermes, Inc. (NYSE:FHI) declared a None dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 8th will be given a dividend of 1.31 per share on Wednesday, May 15th. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Federated Hermes’s previous None dividend of $1.27.

Federated Hermes has raised its dividend by an average of 0.9% annually over the last three years and has increased its dividend every year for the last 1 years. Federated Hermes has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Federated Hermes to earn $4.14 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 27.1%.

Federated Hermes Trading Down 4.0 %

Shares of FHI stock traded down $1.35 during trading hours on Friday, hitting $32.80. 1,806,404 shares of the company were exchanged, compared to its average volume of 780,194. The firm has a fifty day moving average of $35.59 and a 200 day moving average of $34.10. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $42.57. The firm has a market cap of $2.77 billion, a PE ratio of 9.32, a PEG ratio of 0.80 and a beta of 1.12.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $396.37 million for the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.16%. Federated Hermes’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Analysts expect that Federated Hermes will post 3.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FHI shares. UBS Group upped their price target on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. TD Cowen assumed coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Insider Activity

In other news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the sale, the vice president now directly owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the transaction, the insider now directly owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul A. Uhlman sold 90,745 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,435 shares of company stock worth $4,092,831. 3.70% of the stock is currently owned by company 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.