Federated Hermes, Inc. (NYSE:FHI) Plans Quarterly Dividend of $0.31

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Investors of record on Friday, February 7th will be paid a dividend of 0.31 per share on Friday, February 14th. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, February 7th.

Federated Hermes has increased its dividend payment by an average of 3.9% per year over the last three years. Federated Hermes has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Federated Hermes to earn $4.13 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 30.0%.

Federated Hermes Stock Up 0.1 %

NYSE:FHI traded up $0.02 on Friday, hitting $39.77. The stock had a trading volume of 1,786,349 shares, compared to its average volume of 716,945. The company has a market cap of $3.25 billion, a PE ratio of 12.79, a P/E/G ratio of 1.46 and a beta of 1.16. Federated Hermes has a 52 week low of $31.24 and a 52 week high of $43.92. The business’s fifty day moving average is $40.75 and its 200 day moving average is $37.90. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. On average, equities research analysts expect that Federated Hermes will post 3.87 EPS for the current fiscal year.

Insider Activity

In other news, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.39, for a total transaction of $261,212.29. Following the sale, the vice president now directly owns 310,767 shares in the company, valued at $12,862,646.13. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard A. Novak sold 1,363 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,280 shares of company stock valued at $986,421 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $42.00 target price (down previously from $49.00) on shares of Federated Hermes in a report on Tuesday, January 7th. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $43.00 price objective (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.17.

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.