Key Points
- VP Bryan Burke sold 4,000 shares of Federated Hermes stock on May 7 at an average price of $54.20, totaling $216,800. After the sale, he still held 74,921 shares.
- Federated Hermes beat quarterly earnings expectations, reporting $1.27 EPS versus the $1.20 estimate and revenue of $478.96 million, up 13.1% year over year.
- The company also raised its quarterly dividend to $0.38 per share from $0.34, implying an annualized yield of about 2.7%. Meanwhile, analysts currently rate the stock a consensus Hold with an average target price of $54.00.
Federated Hermes, Inc. (NYSE:FHI - Get Free Report) VP Bryan Burke sold 4,000 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the transaction, the vice president directly owned 74,921 shares of the company's stock, valued at $4,060,718.20. The trade was a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Federated Hermes Stock Performance
Shares of NYSE FHI opened at $55.86 on Friday. The company has a market cap of $4.24 billion, a P/E ratio of 10.83, a P/E/G ratio of 2.13 and a beta of 0.67. Federated Hermes, Inc. has a 52-week low of $41.55 and a 52-week high of $59.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 3.28. The firm's fifty day moving average is $56.62 and its two-hundred day moving average is $53.53.
Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $478.96 million during the quarter, compared to the consensus estimate of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business's revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, analysts anticipate that Federated Hermes, Inc. will post 5.08 EPS for the current fiscal year.
Federated Hermes Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 8th. This is a boost from Federated Hermes's previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 2.7%. Federated Hermes's dividend payout ratio is currently 26.36%.
Institutional Investors Weigh In On Federated Hermes
Several large investors have recently added to or reduced their stakes in FHI. Seizert Capital Partners LLC lifted its stake in Federated Hermes by 47.2% in the third quarter. Seizert Capital Partners LLC now owns 82,524 shares of the company's stock worth $4,285,000 after purchasing an additional 26,459 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Federated Hermes by 2,427.2% during the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company's stock valued at $27,386,000 after buying an additional 506,500 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Federated Hermes by 3,592.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 46,412 shares of the company's stock valued at $2,410,000 after buying an additional 45,155 shares during the period. Vest Financial LLC bought a new position in shares of Federated Hermes during the third quarter valued at approximately $1,397,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Federated Hermes by 19.9% in the third quarter. Allianz Asset Management GmbH now owns 1,008,221 shares of the company's stock worth $52,357,000 after buying an additional 167,225 shares during the period. 75.94% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Federated Hermes from $56.00 to $53.00 and set an "underweight" rating on the stock in a research note on Monday, May 4th. Argus upgraded Federated Hermes to a "hold" rating in a research report on Monday, February 2nd. TD Cowen cut their target price on shares of Federated Hermes from $58.00 to $54.00 and set a "hold" rating for the company in a report on Monday. Royal Bank Of Canada reduced their price target on shares of Federated Hermes from $56.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $54.00.
View Our Latest Analysis on Federated Hermes
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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