Federated Hermes, Inc. (FHI) To Go Ex-Dividend on November 8th

Federated Hermes, Inc. (NYSE:FHI) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Investors of record on Friday, November 8th will be paid a dividend of 0.31 per share on Friday, November 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, November 8th.

Federated Hermes has raised its dividend by an average of 0.9% per year over the last three years. Federated Hermes has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Federated Hermes to earn $4.00 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 31.0%.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $38.60 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34. Federated Hermes has a fifty-two week low of $30.23 and a fifty-two week high of $40.29. The firm has a 50-day simple moving average of $35.84 and a 200 day simple moving average of $34.22. The company has a market cap of $3.25 billion, a PE ratio of 10.97, a P/E/G ratio of 1.41 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the prior year, the firm earned $0.86 EPS. Federated Hermes’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Federated Hermes will post 3.63 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on FHI shares. StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Royal Bank of Canada upped their target price on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. TD Cowen decreased their target price on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, UBS Group upped their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and an average target price of $38.80.

Insider Transactions at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

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.