Federated Hermes, Inc. (FHI) to Issue None Dividend of $1.31 on May 15th

Federated Hermes, Inc. (NYSE:FHI) announced a None dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 8th will be paid a dividend of 1.31 per share on Wednesday, May 15th. This represents a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 7th. This is a positive change from Federated Hermes’s previous None dividend of $1.27.

Federated Hermes has increased its dividend payment by an average of 0.9% per year over the last three years and has raised its dividend every year for the last 1 years. Federated Hermes has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Federated Hermes to earn $4.02 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 30.8%.

Federated Hermes Stock Performance

NYSE:FHI opened at $32.89 on Friday. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.93 and a beta of 1.14. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 3.39. The stock has a fifty day moving average price of $35.35 and a 200-day moving average price of $34.08.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. Federated Hermes’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 earned $0.78 earnings per share. As a group, equities analysts anticipate that Federated Hermes will post 3.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on FHI shares. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. Evercore ISI lowered their price target on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, UBS Group boosted their target price on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.29.

Insider Buying and Selling

In other Federated Hermes news, insider Richard A. Novak sold 908 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the transaction, the insider now directly owns 49,068 shares in the company, valued at $1,769,882.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Paul A. Uhlman sold 13,820 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the completion of the transaction, the vice president now directly owns 276,084 shares of the company’s stock, valued at approximately $9,994,240.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Novak sold 908 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. Insiders have sold 113,775 shares of company stock worth $4,032,822 in the last 90 days. Insiders own 3.70% of the company’s stock.

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.