Federated Hermes, Inc. (NYSE:FHI) Declares Quarterly Dividend of $0.31

by · The Cerbat Gem

Federated Hermes, Inc. (NYSE:FHI – Get Free Report) 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 dividend on an annualized basis and a yield of 3.21%. 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 dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Federated Hermes to earn $4.00 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 31.0%.

Federated Hermes Stock Performance

FHI remained flat at $38.60 during mid-day trading on Friday. The company’s stock had a trading volume of 1,204,221 shares, compared to its average volume of 711,844. The company has a market cap of $3.25 billion, a PE ratio of 11.20, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $35.74 and a two-hundred day moving average price of $34.21. Federated Hermes has a 52-week low of $30.23 and a 52-week high of $40.29.

Federated Hermes (NYSE:FHI – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. As a group, analysts expect that Federated Hermes will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FHI. Evercore ISI increased their price target on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. UBS Group increased their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, TD Cowen dropped their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and an average target price of $38.80.

Read Our Latest Research Report on FHI

About Federated Hermes

(Get Free Report)

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.

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