Federated Hermes (NYSE:FHI) Releases Quarterly Earnings Results, Meets Estimates

Federated Hermes (NYSE:FHI) issued its quarterly earnings data on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89, Briefing.com reports. The firm had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.16%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS.

Federated Hermes Price Performance

FHI traded down $1.35 on Friday, hitting $32.80. 1,806,404 shares of the company’s stock traded hands, compared to its average volume of 780,194. Federated Hermes has a one year low of $30.23 and a one year high of $42.57. The company has a current ratio of 2.51, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.77 and a beta of 1.12. The company’s 50 day simple moving average is $35.59 and its 200-day simple moving average is $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 given a dividend of $1.31 per share. The ex-dividend date is Tuesday, May 7th. This is a boost from Federated Hermes’s previous None dividend of $1.27. Federated Hermes’s dividend payout ratio (DPR) is currently 31.82%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group lifted their target price on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. TD Cowen initiated coverage on Federated Hermes in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.50.

Insiders Place Their Bets

In other news, VP Paul A. Uhlman sold 13,820 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total value of $500,284.00. Following the transaction, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at $6,441,062.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul A. Uhlman sold 13,820 shares of Federated Hermes stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the sale, the vice president now directly owns 276,084 shares in the company, valued at approximately $9,994,240.80. The disclosure for this sale can be found here. Insiders sold 115,435 shares of company stock worth $4,092,831 in the last three months. 3.70% of the stock is owned by company insiders.

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.