Federated Hermes (NYSE:FHI) Releases Earnings Results

by · The Cerbat Gem

Federated Hermes (NYSE:FHI – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19, FiscalAI reports. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The firm had revenue of $482.83 million during the quarter, compared to analysts’ expectations of $468.45 million.

Federated Hermes Stock Performance

Shares of FHI stock opened at $53.07 on Friday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.55 and a beta of 0.75. Federated Hermes has a 52-week low of $35.05 and a 52-week 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 company’s 50 day moving average is $52.28 and its 200 day moving average is $51.41.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, February 6th will be issued a $0.34 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes’s payout ratio is currently 28.39%.

Analyst Ratings Changes

FHI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Finally, Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus price target of $51.20.

Get Our Latest Research Report on Federated Hermes

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total transaction of $728,100.00. Following the sale, the chief executive officer directly owned 157,039 shares of the company’s stock, valued at $7,622,673.06. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard A. Novak sold 1,249 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total value of $59,764.65. Following the sale, the insider owned 57,500 shares in the company, valued at approximately $2,751,375. The trade was a 2.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,709 shares of company stock valued at $1,049,146. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Federated Hermes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FHI. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Federated Hermes during the second quarter valued at $56,000. EverSource Wealth Advisors LLC boosted its stake in shares of Federated Hermes by 76.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after acquiring an additional 679 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Federated Hermes during the 2nd quarter valued at about $76,000. Entropy Technologies LP purchased a new position in shares of Federated Hermes in the 3rd quarter valued at about $212,000. Finally, United Services Automobile Association acquired a new position in Federated Hermes in the 1st quarter worth about $220,000. 75.94% of the stock is owned by institutional investors and hedge funds.

About Federated Hermes

(Get Free Report)

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.

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