Federated Hermes Inc (NYSE:FHI) Releases Quarterly Earnings Results, Misses EPS Estimates by $0.07
Federated Hermes (NYSE: FHI – Get a rating) released its quarterly earnings data on Thursday. The company reported earnings per share (EPS) of $0.61 for the quarter, missing analyst consensus estimates of $0.68 per ($0.07), MarketWatch Earnings reports. Federated Hermes had a return on equity of 24.21% and a net margin of 20.78%. The company posted revenue of $324.76 million for the quarter, versus analyst estimates of $338.07 million. In the same period a year earlier, the company posted earnings of $0.75 per share. The company’s revenue for the quarter was down 4.8% from the same quarter last year.
The NYSE FHI traded down $0.96 during Friday’s trading, hitting $28.48. 1,200,049 shares of the company were traded, with an average volume of 732,698. The company has a 50-day moving average price of $32.38 and a two-hundred-day moving average price of $34.11. The stock has a market capitalization of $2.62 billion, a P/E ratio of 10.36 and a beta of 1.12. Federated Hermes has a 1-year low of $27.88 and a 1-year high of $39.82. The company has a debt ratio of 0.20, a quick ratio of 1.35 and a current ratio of 2.07.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13. Shareholders of record on Friday, May 6 will receive a dividend of $0.27. This represents a dividend of $1.08 on an annualized basis and a yield of 3.79%. The ex-date of this dividend is Thursday, May 5. Federated Hermes’ dividend payout ratio is currently 39.27%.
A number of stock analysts have weighed in on the stock recently. Citigroup cut Federated Hermes shares from a “neutral” rating to a “sell” rating and set a price target of $28.50 for the company. in a research report on Tuesday, April 12. StockNews.com upgraded Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft cut its price target on Federated Hermes shares from $42.00 to $37.00 in a Thursday, April 7 research report. Finally, JPMorgan Chase & Co. lowered its price target on Federated Hermes shares from $34.00 to $31.00 in a Tuesday, January 25 research note.
Separately, Vice Chairman Gordon J. Ceresino sold 32,428 shares in a trade on Friday, February 11. The shares were sold at an average price of $33.65, for a total value of $1,091,202.20. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, Chief Financial Officer Thomas R. Donahue sold 30,000 shares of the company in a trade on Wednesday, March 30. The shares were sold at an average price of $34.18, for a total transaction of $1,025,400.00. Disclosure of this sale can be found here. During the last quarter, insiders sold 89,451 shares of the company worth $2,954,168. Insiders of the company own 5.00% of the shares of the company.
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in Federated Hermes during Q4 worth $267,000. Jane Street Group LLC increased its stake in Federated Hermes by 34.1% during the third quarter. Jane Street Group LLC now owns 9,880 shares of the company worth $321,000 after buying 2,514 additional shares in the last quarter. Vident Investment Advisory LLC increased its position in Federated Hermes by 4.1% in the fourth quarter. Vident Investment Advisory LLC now owns 63,710 shares of the company valued at $2,394,000 after purchasing an additional 2,506 shares during the period. Deutsche Bank AG increased its holdings in Federated Hermes by 2.2% in the fourth quarter. Deutsche Bank AG now owns 79,598 shares of the company valued at $2,991,000 after buying an additional 1,709 shares last quarter. Finally, Wells Fargo & Company MN increased its position in Federated Hermes by 17.7% during the 4th quarter. Wells Fargo & Company MN now owns 120,544 shares of the company worth $4,531,000 after purchasing an additional 18,106 shares during the period. 80.58% of the shares are held by hedge funds and other institutional investors.
About Federated Hermes (Get a rating)
Federated Hermes, Inc is a public asset management holding company. Through its subsidiaries, the Company provides its services to individuals, including high net worth individuals, banking or savings institutions, investment companies, pension and profit sharing schemes, investment vehicles in common, charities, state or municipal government entities and registered investment advisers.
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