Federated Hermes, Inc. (NYSE:FHI) Plans None Dividend of $1.31

Federated Hermes, Inc. (NYSE:FHI) declared a None dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 1.31 per share on Wednesday, May 15th. The ex-dividend date is Tuesday, May 7th. This is a positive change from Federated Hermes’s previous None dividend of $1.27.

Federated Hermes has increased its dividend payment by an average of 0.9% annually over the last three years and has raised its dividend every year for the last 1 years. Federated Hermes has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Federated Hermes to earn $4.14 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 27.1%.

Federated Hermes Stock Performance

Federated Hermes stock traded down $1.35 during midday trading on Friday, reaching $32.80. 1,806,404 shares of the company’s stock were exchanged, compared to its average volume of 780,194. Federated Hermes has a 52 week low of $30.23 and a 52 week high of $42.57. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.80 and a beta of 1.12. The stock’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $34.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. Federated Hermes had a return on equity of 27.16% and a net margin of 18.75%. The business had revenue of $396.37 million for the quarter, compared to analysts’ expectations of $400.26 million. During the same quarter in the prior year, the business earned $0.78 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Federated Hermes will post 3.76 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the completion of the transaction, the vice president now directly owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total value of $300,117.30. Following the sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,435 shares of company stock worth $4,092,831. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FHI. TD Cowen initiated coverage on shares of Federated Hermes in a report on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price for the company. UBS Group boosted their price objective on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Royal Bank of Canada lifted their price target on Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

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.