Federated Hermes (NYSE:FHI) Issues Quarterly Earnings Results

Federated Hermes (NYSE:FHI) announced its quarterly earnings data on Thursday. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07, Briefing.com reports. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS.

Federated Hermes Stock Performance

Federated Hermes stock traded down $0.37 during midday trading on Friday, reaching $35.06. 1,192,221 shares of the stock traded hands, compared to its average volume of 764,288. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $33.02 and a two-hundred day moving average price of $34.27. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.35 and a beta of 1.17. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.10.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.54%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 8th. Federated Hermes’s payout ratio is presently 35.23%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the sale, the vice president now directly owns 299,572 shares in the company, valued at approximately $9,885,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Federated Hermes news, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the sale, the vice president now directly owns 299,572 shares in the company, valued at approximately $9,885,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total transaction of $31,241.42. Following the sale, the vice president now owns 298,578 shares in the company, valued at $9,384,306.54. The disclosure for this sale can be found here. Insiders sold 2,361 shares of company stock valued at $76,360 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. TD Cowen decreased their price target on shares of Federated Hermes from $36.00 to $34.00 and set a “hold” rating for the company in a report on Monday, July 8th. UBS Group decreased their price target on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI decreased their price target on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.