Federated Hermes (NYSE:FHI) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Federated Hermes (NYSE:FHI) issued its earnings results 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. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The firm had revenue of $402.60 million for the quarter, compared to analyst estimates of $400.35 million. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis.

Federated Hermes Trading Down 1.0 %

Shares of FHI stock traded down $0.37 during trading hours 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 quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.95 billion, a PE ratio of 9.96, a PEG ratio of 1.35 and a beta of 1.17. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $37.10. The business has a fifty day moving average price of $33.02 and a 200 day moving average price of $34.27.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th will be given a $0.31 dividend. This is an increase from Federated Hermes’s previous quarterly dividend of $0.28. 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. Federated Hermes’s dividend payout ratio (DPR) is 35.23%.

Insider Buying and Selling

In related news, VP Paul A. Uhlman sold 994 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the sale, the vice president now directly owns 298,578 shares of the company’s stock, valued at approximately $9,384,306.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Paul A. Uhlman sold 975 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 994 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now owns 298,578 shares of the company’s stock, valued at $9,384,306.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,361 shares of company stock valued at $76,360. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

FHI has been the topic of several analyst reports. TD Cowen dropped their target price on Federated Hermes from $36.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. UBS Group decreased their price target on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Evercore ISI decreased their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, 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 research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.