Federated Hermes (NYSE:FHI) Releases Earnings Results, Hits Expectations

Federated Hermes (NYSE:FHI) posted its quarterly earnings data on Thursday. The company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89, Briefing.com reports. 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 analyst estimates of $400.26 million. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis.

Federated Hermes Stock Performance

NYSE FHI traded down $1.35 during trading hours on Friday, hitting $32.80. The company had a trading volume of 1,806,404 shares, compared to its average volume of 780,194. 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 has a 1-year low of $30.23 and a 1-year high of $42.57. The company has a market cap of $2.77 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12. The business has a 50 day moving average of $35.59 and a 200-day moving average of $34.10.

Federated Hermes Increases Dividend

The firm also recently announced a None dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s dividend payout ratio is 31.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FHI shares. UBS Group upped their price objective on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. TD Cowen began coverage on Federated Hermes in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Insider Buying and Selling at Federated Hermes

In related news, VP Paul A. Uhlman sold 90,745 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at $10,222,015.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Meter Stephen Van sold 1,660 shares of Federated Hermes stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now owns 31,689 shares in the company, valued at approximately $1,145,557.35. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock worth $4,092,831 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

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.