Federated Hermes (FHI) Set to Announce Quarterly Earnings on Thursday

Federated Hermes (NYSE:FHI) is set to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect Federated Hermes to post earnings of $0.86 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The firm had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $396.97 million. During the same quarter in the previous year, the company posted $0.90 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, analysts expect Federated Hermes to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Federated Hermes Trading Down 0.4 %

Shares of FHI opened at $35.08 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $35.68 and a 200 day moving average price of $34.04. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $45.55. The firm has a market capitalization of $2.96 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.83 and a beta of 1.12.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were paid a $0.28 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.19%. Federated Hermes’s dividend payout ratio (DPR) is 32.84%.

Insider Activity at Federated Hermes

In related news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the transaction, the insider now directly owns 49,068 shares in the company, valued at approximately $1,769,882.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Richard A. Novak sold 908 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the sale, the insider now directly owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Saker Anwar Nusseibeh sold 8,302 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,435 shares of company stock worth $4,092,831. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in Federated Hermes during the 2nd quarter worth about $227,000. Mackenzie Financial Corp increased its holdings in shares of Federated Hermes by 10.3% in the 1st quarter. Mackenzie Financial Corp now owns 6,647 shares of the company’s stock valued at $226,000 after acquiring an additional 619 shares during the period. Gabelli Funds LLC purchased a new stake in Federated Hermes in the 4th quarter valued at $218,000. Walleye Capital LLC acquired a new stake in Federated Hermes during the 1st quarter worth $206,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Federated Hermes in the fourth quarter valued at about $205,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on FHI. Royal Bank of Canada lifted their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. TD Cowen began coverage on Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price for the company. JPMorgan Chase & Co. upped their price target on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Finally, UBS Group raised their price objective on Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.