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. Investors 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 raised its dividend payment by an average of 0.9% per year over the last three years. Federated Hermes has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 50 day simple moving average of $36.87 and a two-hundred day simple moving average of $34.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. Federated Hermes has a one year low of $31.08 and a one year high of $42.56. The company has a market cap of $3.42 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.15 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Federated Hermes will post 3.83 EPS for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Evercore ISI increased their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. StockNews.com lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Thursday. UBS Group upped their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.