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

Federated Hermes, Inc. (NYSE:FHI) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Friday, February 7th will be given 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 is Friday, February 7th.

Federated Hermes has increased its dividend payment by an average of 3.9% annually over the last three years. Federated Hermes has a dividend payout ratio of 28.0% indicating that 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 Performance

Federated Hermes stock traded up $0.02 during mid-day trading on Friday, reaching $39.77. The company’s stock had a trading volume of 1,519,210 shares, compared to its average volume of 716,945. The firm’s fifty day moving average price is $40.75 and its two-hundred day moving average price is $37.90. The company has a market capitalization of $3.25 billion, a P/E ratio of 12.79, a PEG ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. Federated Hermes has a 12-month low of $31.24 and a 12-month high of $43.92.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.08. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. Sell-side analysts predict that Federated Hermes will post 3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 4,454 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.38, for a total value of $184,306.52. Following the completion of the transaction, the chief executive officer now directly owns 184,642 shares in the company, valued at $7,640,485.96. This represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction of $261,212.29. Following the sale, the vice president now owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,280 shares of company stock worth $986,421. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FHI. UBS Group upped their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI upped their price objective on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 26th. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $46.00 in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Federated Hermes currently has a consensus rating of “Hold” and an average price target of $42.17.

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.