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

Federated Hermes, Inc. (NYSE:FHI) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, February 7th.

Federated Hermes has raised its dividend by an average of 3.9% annually over the last three years. Federated Hermes has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Federated Hermes to earn $4.13 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 30.0%.

Federated Hermes Price Performance

Shares of FHI traded up $0.02 during mid-day trading on Friday, reaching $39.77. The company had a trading volume of 1,519,210 shares, compared to its average volume of 716,945. Federated Hermes has a twelve month low of $31.24 and a twelve month high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The company’s 50-day moving average is $40.75 and its 200-day moving average is $37.90. The company has a market capitalization of $3.25 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.46 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. On average, equities analysts anticipate that Federated Hermes will post 3.87 EPS for the current year.

Insider Buying and Selling

In other news, insider Richard A. Novak sold 1,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total value of $56,523.61. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. The trade was a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,280 shares of company stock worth $986,421. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

FHI has been the topic of a number of recent research reports. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday. UBS Group raised their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.17.

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.