Federated Hermes, Inc. (FHI) to Issue Quarterly Dividend of $0.04 on October 2nd

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Monday, September 11th, Zacks reports. Investors of record on Friday, September 22nd will be given a dividend of 0.035 per share on Monday, October 2nd. This represents a $0.14 annualized dividend and a yield of 0.40%. The ex-dividend date is Thursday, September 21st.

Federated Hermes Stock Down 0.6 %

FHI opened at $34.63 on Tuesday. Federated Hermes has a 12 month low of $30.30 and a 12 month high of $45.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 2.20. The stock has a market cap of $3.06 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.75 and a beta of 1.04. The stock’s 50 day moving average price is $34.43 and its 200 day moving average price is $37.19.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 27th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. Federated Hermes had a return on equity of 27.30% and a net margin of 17.05%. The firm had revenue of $433.23 million for the quarter, compared to analysts’ expectations of $392.73 million. As a group, research analysts predict that Federated Hermes will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Saker Anwar Nusseibeh sold 7,800 shares of Federated Hermes stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $34.73, for a total value of $270,894.00. Following the transaction, the chief executive officer now directly owns 185,634 shares in the company, valued at approximately $6,447,068.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 51,009 shares of company stock worth $1,830,522 in the last three months. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank acquired a new stake in shares of Federated Hermes in the second quarter worth $2,140,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Federated Hermes by 10.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,957 shares of the company’s stock worth $536,000 after buying an additional 1,394 shares during the period. Legato Capital Management LLC boosted its position in shares of Federated Hermes by 39.1% in the second quarter. Legato Capital Management LLC now owns 16,433 shares of the company’s stock worth $589,000 after buying an additional 4,623 shares during the period. Staley Capital Advisers Inc. boosted its position in shares of Federated Hermes by 413.4% in the second quarter. Staley Capital Advisers Inc. now owns 30,017 shares of the company’s stock worth $1,076,000 after buying an additional 24,170 shares during the period. Finally, Vestcor Inc boosted its position in shares of Federated Hermes by 140.0% in the second quarter. Vestcor Inc now owns 151,724 shares of the company’s stock worth $5,439,000 after buying an additional 88,505 shares during the period. Institutional investors and hedge funds own 76.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FHI shares. Jefferies Financial Group lowered their price target on Federated Hermes from $41.00 to $38.00 in a research report on Monday, July 10th. Royal Bank of Canada lowered their price target on Federated Hermes from $39.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 17th. StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Finally, JPMorgan Chase & Co. lowered their price target on Federated Hermes from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.60.

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.