Zacks Research Comments on Federated Hermes, Inc.'s Q1 2024 Earnings (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI - Free Report) - Stock analysts at Zacks Research increased their Q1 2024 earnings estimates for Federated Hermes in a research note issued to investors on Wednesday, April 10th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $0.87 per share for the quarter, up from their prior estimate of $0.83. The consensus estimate for Federated Hermes' current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Federated Hermes' Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.96 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.73 EPS, Q1 2025 earnings at $1.01 EPS, Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.09 EPS, FY2025 earnings at $4.17 EPS, Q1 2026 earnings at $1.11 EPS and FY2026 earnings at $4.57 EPS.

A number of other equities analysts have also recently issued reports on FHI. UBS Group lifted their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday. TD Cowen started coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They set a "market perform" rating and a $32.00 target price for the company. Royal Bank of Canada boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Federated Hermes from $43.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Federated Hermes presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

Federated Hermes Price Performance

FHI traded down $0.84 during midday trading on Friday, reaching $35.73. 725,405 shares of the company's stock were exchanged, compared to its average volume of 741,089. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The stock has a market capitalization of $3.02 billion, a PE ratio of 10.48, a P/E/G ratio of 0.87 and a beta of 1.12. The business's 50-day moving average price is $35.70 and its 200 day moving average price is $34.02. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $45.55.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings data on Friday, January 26th. The company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.12. The firm had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The firm's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share.

Institutional Investors Weigh In On Federated Hermes

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Federated Hermes by 3.7% in the first quarter. BlackRock Inc. now owns 13,001,719 shares of the company's stock valued at $442,838,000 after purchasing an additional 466,504 shares during the period. Vanguard Group Inc. boosted its stake in shares of Federated Hermes by 0.8% in the first quarter. Vanguard Group Inc. now owns 9,230,986 shares of the company's stock valued at $314,407,000 after purchasing an additional 73,168 shares during the period. FMR LLC boosted its stake in shares of Federated Hermes by 12.6% in the third quarter. FMR LLC now owns 5,033,058 shares of the company's stock valued at $170,470,000 after purchasing an additional 562,232 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Federated Hermes by 0.9% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company's stock valued at $107,453,000 after purchasing an additional 27,321 shares during the period. Finally, State Street Corp boosted its stake in shares of Federated Hermes by 0.8% in the first quarter. State Street Corp now owns 2,898,040 shares of the company's stock valued at $116,327,000 after purchasing an additional 24,211 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Meter Stephen Van sold 1,660 shares of the company's stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now owns 31,689 shares of the company's stock, valued at $1,145,557.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Federated Hermes news, VP Meter Stephen Van sold 1,660 shares of the business's stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the sale, the vice president now directly owns 31,689 shares in the company, valued at $1,145,557.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul A. Uhlman sold 90,745 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the sale, the vice president now owns 289,904 shares of the company's stock, valued at $10,222,015.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,435 shares of company stock valued at $4,092,831. Insiders own 3.70% of the company's stock.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.13%. The ex-dividend date was Wednesday, February 7th. Federated Hermes's dividend payout ratio (DPR) is 32.84%.

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.