Federated Hermes (NYSE:FHI) Issues Earnings Results

Federated Hermes (NYSE:FHI) issued its quarterly earnings data on Thursday. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14, Briefing.com reports. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The company had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Federated Hermes’s revenue was up 1.4% on a year-over-year basis.

Federated Hermes Stock Performance

Shares of Federated Hermes stock traded up $0.03 during trading on Friday, hitting $38.63. 1,204,221 shares of the company’s stock traded hands, compared to its average volume of 711,844. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $40.29. The stock has a market capitalization of $3.25 billion, a P/E ratio of 10.97, a PEG ratio of 1.41 and a beta of 1.16. The business has a 50-day simple moving average of $35.84 and a 200-day simple moving average of $34.22.

Federated Hermes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.21%. Federated Hermes’s dividend payout ratio is currently 35.23%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the 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 transaction, the vice president now owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FHI has been the subject of several research reports. TD Cowen cut their target price on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Evercore ISI boosted their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada boosted their price objective on Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.