Federated Hermes, Inc. Announces Quarterly Dividend of $0.34 (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Friday, February 6th will be paid a dividend of 0.34 per share on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, February 6th.

Federated Hermes has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 4 years. Federated Hermes has a dividend payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Federated Hermes to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 31.6%.

Federated Hermes Stock Up 0.4%

Shares of NYSE FHI traded up $0.23 during trading on Friday, reaching $53.26. The company had a trading volume of 114,609 shares, compared to its average volume of 569,989. Federated Hermes has a 12-month low of $35.05 and a 12-month high of $55.13. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average is $52.28 and its 200 day moving average is $51.41. The stock has a market cap of $4.13 billion, a PE ratio of 11.12, a P/E/G ratio of 0.55 and a beta of 0.75.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, January 29th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The company had revenue of $482.83 million for the quarter, compared to analysts’ expectations of $468.45 million. As a group, equities analysts forecast that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Thursday, January 22nd. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. TD Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research report on Wednesday, January 14th. Finally, Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.20.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.