Federated Hermes (NYSE:FHI) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Federated Hermes (NYSE:FHI) posted its quarterly earnings data on Thursday. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07, Briefing.com reports. The firm had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. Federated Hermes had a return on equity of 27.91% and a net margin of 15.90%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS.

Federated Hermes Stock Down 1.0 %

Shares of FHI traded down $0.37 on Friday, hitting $35.06. The company’s stock had a trading volume of 1,192,221 shares, compared to its average volume of 517,661. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $33.02 and its 200-day moving average price is $34.28. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $37.10. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.36 and a beta of 1.17.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 3.54%. Federated Hermes’s payout ratio is currently 35.23%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now owns 298,578 shares in the company, valued at approximately $9,384,306.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Federated Hermes news, VP Paul A. Uhlman sold 994 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.43, for a total value of $31,241.42. Following the sale, the vice president now owns 298,578 shares in the company, valued at approximately $9,384,306.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul A. Uhlman sold 975 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $32,175.00. Following the sale, the vice president now owns 299,572 shares in the company, valued at approximately $9,885,876. The disclosure for this sale can be found here. In the last three months, insiders sold 2,361 shares of company stock worth $76,360. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

FHI has been the subject of several recent research reports. TD Cowen dropped their target price on shares of Federated Hermes from $36.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 8th. UBS Group cut their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, Evercore ISI decreased their target price on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.