Federated Hermes, Inc. (FHI) To Go Ex-Dividend on August 8th

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Thursday, August 8th will be paid a dividend of 0.31 per share on Thursday, August 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28.

Federated Hermes has raised its dividend payment by an average of 0.9% annually over the last three years. Federated Hermes has a payout ratio of 30.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Federated Hermes to earn $3.95 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 31.4%.

Federated Hermes Stock Performance

NYSE FHI opened at $35.06 on Friday. The business’s 50-day moving average price is $33.02 and its 200 day moving average price is $34.27. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $37.10. The company has a market capitalization of $2.95 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. The company has a current ratio of 3.39, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The business had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. Federated Hermes had a return on equity of 27.91% and a net margin of 15.90%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. On average, research analysts predict that Federated Hermes will post 3.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

FHI has been the topic of several recent research reports. Evercore ISI cut their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. TD Cowen cut their target price on Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. raised their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, UBS Group dropped their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insiders Place Their Bets

In related news, VP Paul A. Uhlman sold 994 shares of Federated Hermes stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the transaction, the vice president now owns 298,578 shares in the company, valued at approximately $9,384,306.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.43, for a total transaction of $31,241.42. Following the completion of the transaction, the vice president now directly owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 975 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $32,175.00. Following the transaction, the vice president now directly owns 299,572 shares of the company’s stock, valued at $9,885,876. The disclosure for this sale can be found here. Insiders have sold 2,361 shares of company stock worth $76,360 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

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.