Federated Hermes (FHI) Set to Announce Quarterly Earnings on Thursday

Federated Hermes (NYSE:FHIGet Rating) is scheduled to announce its earnings results after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $0.75 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Federated Hermes (NYSE:FHIGet Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. The firm had revenue of $381.14 million during the quarter, compared to the consensus estimate of $373.91 million. Federated Hermes had a net margin of 18.05% and a return on equity of 25.31%. On average, analysts expect Federated Hermes to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Federated Hermes Trading Down 1.3 %

Shares of FHI stock traded down $0.48 during trading hours on Tuesday, hitting $37.59. 624,237 shares of the company’s stock traded hands, compared to its average volume of 606,336. The stock’s 50 day simple moving average is $37.21 and its 200 day simple moving average is $35.11. The stock has a market cap of $3.35 billion, a PE ratio of 13.72 and a beta of 1.03. Federated Hermes has a 12 month low of $27.88 and a 12 month high of $39.29. The company has a quick ratio of 1.90, a current ratio of 2.64 and a debt-to-equity ratio of 0.41.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Monday, November 7th. Federated Hermes’s payout ratio is currently 39.42%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 14,300 shares of Federated Hermes stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $34.85, for a total transaction of $498,355.00. Following the completion of the transaction, the chief executive officer now directly owns 243,497 shares in the company, valued at $8,485,870.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Thomas R. Donahue sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $35.21, for a total transaction of $1,056,300.00. Following the transaction, the chief financial officer now directly owns 544,630 shares in the company, valued at $19,176,422.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 14,300 shares of Federated Hermes stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $34.85, for a total transaction of $498,355.00. Following the completion of the sale, the chief executive officer now directly owns 243,497 shares in the company, valued at approximately $8,485,870.45. The disclosure for this sale can be found here. Insiders sold 96,328 shares of company stock worth $3,524,104 over the last three months. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Federated Hermes

Several hedge funds have recently added to or reduced their stakes in FHI. Invesco Ltd. raised its position in Federated Hermes by 61.0% in the first quarter. Invesco Ltd. now owns 1,822,046 shares of the company’s stock worth $62,060,000 after acquiring an additional 690,423 shares during the period. BlackRock Inc. raised its position in Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after acquiring an additional 466,504 shares during the period. Alliancebernstein L.P. raised its position in shares of Federated Hermes by 99.3% in the third quarter. Alliancebernstein L.P. now owns 433,746 shares of the company’s stock valued at $14,366,000 after purchasing an additional 216,109 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Federated Hermes by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,190,575 shares of the company’s stock valued at $74,611,000 after purchasing an additional 126,825 shares during the period. Finally, Cadence Bank bought a new stake in shares of Federated Hermes in the first quarter valued at approximately $4,001,000. Institutional investors own 78.82% of the company’s stock.

Analysts Set New Price Targets

FHI has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Federated Hermes in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Royal Bank of Canada lifted their target price on shares of Federated Hermes from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Federated Hermes from $42.00 to $44.00 in a research note on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus target price of $35.10.

Federated Hermes Company Profile

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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.

See Also

Earnings History for Federated Hermes (NYSE:FHI)

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