Welcome to our dedicated page for Federated Hermes news (Ticker: FHI), a resource for investors and traders seeking the latest updates and insights on Federated Hermes stock.
Federated Hermes, Inc. (NYSE: FHI) is a global leader in active, responsible investment management. Headquartered in Pittsburgh, the company oversees $757.6 billion in assets as of December 31, 2023, across a spectrum of strategies, including equity, fixed income, alternative/private markets, multi-asset, and liquidity management solutions. Federated Hermes aims to help clients achieve better risk-adjusted returns through its specialized capabilities and world-leading stewardship services.
Federated Hermes' core business focuses on providing asset management services to institutional and individual investors. Their products are distributed through various channels, including trust banks, wealth managers, retail broker-dealers (63% of AUM), institutional investors (28%), and international clients (9%). The company's cash-management operations are particularly significant, contributing around 46% of its revenue.
The firm has been recognized for its commitment to responsible investing, emphasizing strategic and sustainability concerns to enhance long-term investor performance. Federated Hermes has garnered a reputation for delivering investment solutions that cater to over 11,000 institutions and intermediaries globally, including corporations, government entities, insurance companies, foundations, and banks.
Recent achievements include record managed assets and significant demand for their prime money market offerings in the current interest rate environment. For Q3 2023, Federated Hermes reported earnings per diluted share (EPS) of $0.86, up from $0.78 in Q3 2022, with total managed assets reaching a record $715.2 billion.
The company continues to innovate and expand its global footprint, with strategic leadership at the helm. For instance, the recent appointment of Karen L. Hanlon to the board as an independent director exemplifies its commitment to enhancing shareholder value through strategic vision and financial insights.
Latest news includes upcoming reports on financial results and earnings calls, reflecting Federated Hermes' transparency and continuous engagement with investors. The company maintains a focus on growth and sustainable investment strategies to navigate market volatility and deliver value to its stakeholders.
Federated Hermes (NYSE: FHI) has announced the availability of monthly fund composition and performance data for the Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of October 31, 2024. The data can be accessed in the Products section of FederatedHermes.com/us.
The company, managing $800.5 billion in assets as of September 30, 2024, serves over 10,000 institutions and intermediaries worldwide. Federated Hermes provides various investment solutions including equity, fixed-income, alternative/private markets, multi-asset, and liquidity management strategies. With headquarters in Pittsburgh, the company employs more than 2,000 people across offices in London, New York, Boston, and worldwide.
Federated Hermes (NYSE: FHI) reported record Q3 2024 results with total assets under management reaching $800.5 billion, up 12% year-over-year. The company achieved earnings per share of $1.06, compared to $0.86 in Q3 2023, with net income of $87.5 million. Money market assets hit a record $593.0 billion, while fixed-income assets reached a record $100.2 billion. The board declared a $0.31 per share dividend and authorized a new 5-million share repurchase program. Revenue increased by $5.8 million or 1% year-over-year, primarily driven by higher average money market assets.
Federated Hermes, Inc. (NYSE: FHI) has announced that monthly fund composition and performance data for Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of Sept. 30, 2024, is now available on their website. Interested parties can access this information in the Products section of FederatedHermes.com/us.
For those preferring hard copies or to be added to a mailing list, contact options are provided. Federated Hermes, Inc. is described as a global leader in active, responsible investment management, with $782.7 billion in assets under management as of June 30, 2024. The company offers a range of investment solutions across various asset classes and strategies to over 10,000 institutions and intermediaries worldwide.
Headquartered in Pittsburgh, Federated Hermes employs more than 2,000 people globally, with offices in London, New York, Boston, and other locations worldwide.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has announced the final results of its tender offer. Due to oversubscription, the fund will purchase 32% of its issued and outstanding common shares on a pro rata basis. The purchase price is set at $12.67 per common share, which is 99% of the net asset value per common share as of October 11, 2024.
A total of 4,988,295 common shares were properly tendered, and the fund accepted 3,679,390 shares for payment. The proration factor is 0.7376799. Federated Hermes, Inc. (NYSE: FHI), the parent company, is a global leader in active, responsible investment management with $782.7 billion in assets under management as of June 30, 2024.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) announced the expiration of its tender offer for 3,679,390 common shares, representing about 32% of outstanding shares. The offer, which closed on Oct. 11, 2024, was oversubscribed with 4,988,295 shares tendered. Due to oversubscription, purchases will be made on a pro-rata basis at 99% of the NAV per share, equaling $12.67 per share.
Federated Hermes, Inc. (NYSE: FHI), the parent company, is a global investment management firm with $782.7 billion in assets under management as of June 30, 2024. The company offers various investment strategies to over 10,000 institutions and intermediaries worldwide, employing more than 2,000 people globally.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a dividend of $0.0380 per share, unchanged from the previous month. The fund aims to provide investors with current dividend income exempt from regular federal income tax and the federal alternative minimum tax (AMT). Key dates for the dividend are:
- Record Date: Oct. 23, 2024
- Ex-Dividend Date: Oct. 23, 2024
- Payable Date: Nov. 1, 2024
Federated Hermes, Inc. (NYSE: FHI), the parent company, is a global leader in active, responsible investment management with $782.7 billion in assets under management as of June 30, 2024. The company offers various investment solutions to over 10,000 institutions and intermediaries worldwide, employing more than 2,000 people globally.
Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, has announced its third quarter 2024 earnings report and conference call dates. The company will release its financial and operating results for the quarter ended Sept. 30, 2024, after market close on Thursday, Oct. 24, 2024. A conference call for investors and analysts is scheduled for 9 a.m. Eastern on Friday, Oct. 25, 2024, hosted by President and CEO J. Christopher Donahue and CFO Thomas R. Donahue.
Investors can access the call by dialing 888-506-0062 (domestic) or 973-528-0011 (international), or via the company's website. A replay will be available by phone and online. As of June 30, 2024, Federated Hermes managed $782.7 billion in assets, serving over 10,000 institutions and intermediaries worldwide with various investment solutions.
Federated Hermes, Inc. (NYSE: FHI) has launched the Federated Hermes MDT Mid Cap Growth Collective Investment Fund, a strategy for qualified retirement plan investors. The fund aims for capital appreciation by investing in a diversified portfolio of US mid-cap growth companies using MDT's stock-selection process. This process utilizes research, technology, and daily data from multiple market cycles to remove subjective influences.
The fund is trusteed by Great Gray Trust Company, and is Federated Hermes' first equity CIT. It complements four existing fixed-income CITs with Great Gray. The fund is managed by a veteran portfolio management team with extensive experience. As of June 30, 2024, Federated Hermes had $782.7 billion in assets under management.
Federated Hermes (NYSE: FHI) has released the monthly fund composition and performance data for its Premier Municipal Income Fund (NYSE: FMN) as of August 31, 2024. This information is now accessible in the Products section of FederatedHermes.com/us. Investors can request hard copies or join a mailing list by contacting the company.
Federated Hermes is a global leader in active, responsible investment management with $782.7 billion in assets under management as of June 30, 2024. The company offers a wide range of investment solutions across various asset classes to over 10,000 institutions and intermediaries worldwide. With headquarters in Pittsburgh, Federated Hermes employs more than 2,000 people globally, including offices in London, New York, and Boston.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has initiated a tender offer for up to 32% of its outstanding common shares. The offer expires on October 11, 2024, at 5 p.m. ET. Shareholders can sell their shares at 99% of the net asset value per share in USD, determined at the close of regular NYSE trading on the expiration date. If more than 32% of shares are tendered, purchases will be made on a pro rata basis. The Board of Trustees approved this offer as part of ongoing efforts to enhance shareholder value, address trading discounts, and provide liquidity. Federated Investment Management Company, the fund's advisor, recommended the tender offer. Shareholders can direct questions to Georgeson , the information agent, at (866) 461-7055.
FAQ
What is the current stock price of Federated Hermes (FHI)?
What is the market cap of Federated Hermes (FHI)?
What does Federated Hermes, Inc. specialize in?
How much in assets does Federated Hermes manage?
Who are the primary clients of Federated Hermes?
What channels does Federated Hermes use to distribute its products?
How does Federated Hermes contribute to responsible investing?
What were the recent financial highlights for Federated Hermes?
What is the significance of Federated Hermes' cash-management operations?
Who recently joined the Board of Directors at Federated Hermes?
What are Federated Hermes' goals for its investors?
How does Federated Hermes maintain transparency with investors?
