Federated Hermes (FHI) Reports Q2 Earnings: What Key Metrics Have to Say
The headline numbers for Federated Hermes (FHI) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Federated Hermes (FHI) Q2 Earnings and Revenues Beat Estimates
Federated Hermes (FHI) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $0.81 per share a year ago.
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Federated Hermes (FHI) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
Federated Hermes (FHI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Panagora Asset Management Inc. Has $3.29 Million Stock Position in Federated Hermes, Inc. (NYSE:FHI)
Panagora Asset Management Inc. lessened its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,156 shares of the company’s stock after selling 1,987 shares during the quarter. Panagora Asset Management Inc. owned 0.11% of Federated Hermes worth $3,290,000 as of its most recent SEC filing. Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in Federated Hermes by 71.1% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock worth $25,000 after purchasing an additional 307 shares during the last quarter. Signaturefd LLC increased its position in shares of Federated Hermes by 69.9% in the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after acquiring an additional 343 shares during the last quarter. Arizona State Retirement System raised its holdings in Federated Hermes by 1.6% during the third quarter. Arizona State Retirement System now owns 24,212 shares of the company’s stock worth $820,000 after acquiring an additional 390 shares in the last quarter. Blue Trust Inc. grew its stake in Federated Hermes by 23.0% in the fourth quarter. Blue Trust Inc. now owns 2,708 shares of the company’s stock valued at $92,000 after purchasing an additional 507 shares in the last quarter. Finally, DGS Capital Management LLC increased its position in shares of Federated Hermes by 6.7% during the 4th quarter. DGS Capital Management LLC now owns 9,258 shares of the company’s stock worth $313,000 after purchasing an additional 584 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors. Insider Buying and Selling In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the sale, the chief executive officer now owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the sale, the chief executive officer now directly owns 178,176 shares of the company’s stock, valued at approximately $6,441,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Paul A. Uhlman sold 13,820 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total value of $500,284.00. Following the completion of the transaction, the vice president now owns 276,084 shares in the company, valued at approximately $9,994,240.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,030 shares of company stock valued at $833,153. 3.70% of the stock is owned by company insiders. Wall Street Analysts Forecast Growth FHI has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. UBS Group lifted their price objective on shares of Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Royal Bank of Canada boosted their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. Finally, Evercore ISI cut their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.29. Read Our Latest Stock Analysis on FHI Federated Hermes Stock Performance NYSE FHI opened at $32.79 on Monday. The stock has a market cap of $2.76 billion, a PE ratio of 9.32, a P/E/G ratio of 1.10 and a beta of 1.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 3.39. The firm has a 50-day moving average of $34.78 and a 200-day moving average of $34.20. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $38.93. Federated Hermes (NYSE:FHI – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $396.37 million during the quarter, compared to analysts’ expectations of $400.26 million. Federated Hermes had a return on equity of 27.00% and a net margin of 18.75%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, sell-side analysts anticipate that Federated Hermes, Inc. will post 3.6 EPS for the current year. Federated Hermes Increases Dividend The firm also recently declared a None dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were paid a $1.31 dividend. The ex-dividend date was Tuesday, May 7th. This is an increase from Federated Hermes’s previous None dividend of $1.27. This represents a dividend yield of 3.8%. Federated Hermes’s dividend payout ratio is 35.23%. Federated Hermes Company Profile (Free Report) 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. 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Q2 2024 EPS Estimates for Federated Hermes, Inc. (NYSE:FHI) Reduced by Analyst
Federated Hermes, Inc. (NYSE:FHI – Free Report) – Stock analysts at Zacks Research decreased their Q2 2024 earnings estimates for shares of Federated Hermes in a research report issued to clients and investors on Thursday, May 16th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.87 per share for the quarter, down from their prior estimate of $0.90. The consensus estimate for Federated Hermes’ current full-year earnings is $3.60 per share. Zacks Research also issued estimates for Federated Hermes’ Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.60 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.88 EPS, Q1 2026 earnings at $1.03 EPS and FY2026 earnings at $4.41 EPS. Several other research analysts have also recently weighed in on FHI. UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Finally, Evercore ISI dropped their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.29. Read Our Latest Stock Analysis on FHI Federated Hermes Trading Down 0.8 % Shares of Federated Hermes stock opened at $32.79 on Monday. The company’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $34.20. The stock has a market capitalization of $2.76 billion, a PE ratio of 9.32, a P/E/G ratio of 1.10 and a beta of 1.14. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $38.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. Federated Hermes (NYSE:FHI – Get Free Report) last posted its earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. Hedge Funds Weigh In On Federated Hermes A number of institutional investors have recently modified their holdings of FHI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Federated Hermes by 17.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,753 shares of the company’s stock worth $432,000 after acquiring an additional 1,886 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Federated Hermes by 5.2% during the third quarter. Principal Financial Group Inc. now owns 351,229 shares of the company’s stock valued at $11,896,000 after purchasing an additional 17,262 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in shares of Federated Hermes by 57.1% during the third quarter. Picton Mahoney Asset Management now owns 227,905 shares of the company’s stock valued at $7,719,000 after purchasing an additional 82,875 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Federated Hermes by 0.9% during 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 in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors. Insider Activity In other news, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total transaction of $500,284.00. Following the sale, the vice president now directly owns 276,084 shares in the company, valued at approximately $9,994,240.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the transaction, the insider now directly owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 13,820 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now directly owns 276,084 shares in the company, valued at $9,994,240.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,030 shares of company stock worth $833,153. 3.70% of the stock is currently owned by corporate insiders. Federated Hermes Increases Dividend The firm also recently announced a None dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were given a dividend of $1.31 per share. This represents a dividend yield of 3.8%. This is a boost from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date was Tuesday, May 7th. Federated Hermes’s dividend payout ratio is currently 35.23%. About Federated Hermes (Get Free Report) 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.
