Federated Hermes, Inc. (FHI) to Issue Quarterly Dividend of $0.31 on February 14th

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 7th will be paid a dividend of 0.31 per share on Friday, February 14th. This represents a $1.24 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, February 7th.

Federated Hermes has raised its dividend payment by an average of 3.9% per year over the last three years. Federated Hermes has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Federated Hermes to earn $4.48 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 27.7%.

Federated Hermes Trading Down 0.9 %

Shares of FHI stock opened at $39.31 on Wednesday. The firm has a market cap of $3.22 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92. The business has a 50-day moving average price of $40.57 and a two-hundred day moving average price of $38.06.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. Equities analysts anticipate that Federated Hermes will post 4.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FHI shares. Evercore ISI raised their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. TD Cowen raised Federated Hermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $46.00 in a research note on Monday, October 28th. Royal Bank of Canada lowered their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. UBS Group boosted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.00.

Insider Buying and Selling

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the transaction, the vice president now owns 310,767 shares in the company, valued at $12,862,646.13. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard A. Novak sold 1,363 shares of Federated Hermes stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now directly owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,128 shares of company stock worth $502,042. 3.70% of the stock is owned by corporate 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.