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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, Inc. (NYSE: FHI) announced the acquisition of C.W. Henderson and Associates, a Chicago-based investment advisor managing approximately $3.63 billion in tax-exempt municipal securities. The deal, expected to close in Q3 2022, allows Federated Hermes to enhance its $23 billion separately managed accounts (SMA) business and leverage C.W. Henderson's expertise in conservative municipal bond management. C.W. Henderson's team will join Federated Hermes, continuing to manage client portfolios under its brand.
Federated Hermes Premier Municipal Income Fund (FMN) has declared a dividend of $0.041 per share for its common shares, payable on August 1, 2022. The record date is July 22, 2022, and the ex-dividend date is July 21, 2022. This tax-free dividend income is exempt from regular federal income tax and the federal alternative minimum tax (AMT). The fund is also entering a three-year special terms period for its Variable Rate Municipal Term Preferred Shares, Series 2019, ensuring a fixed spread over the prevailing short-term tax-exempt rate.
Federated Hermes, Inc. (NYSE: FHI) will announce its financial results for the second quarter of 2022 on July 28, 2022. The conference call for investors is scheduled for July 29, 2022, at 9 a.m. Eastern, hosted by CEO J. Christopher Donahue and CFO Thomas R. Donahue. As of March 31, 2022, the company manages $631.1 billion in assets for over 11,000 clients globally. Investors can access the conference call via phone or online at FederatedHermes.com.
Federated Hermes Premier Municipal Income Fund (FMN) has declared a dividend of $0.041 per share, down $(0.013) from the previous month. The record date is June 23, 2022, while the ex-dividend date is June 22, 2022, and payment will occur on July 1, 2022. The decline in the dividend is attributed to changes in portfolio income and a reduction in leverage from 42.8% to 36.8%, aimed at minimizing volatility in net asset value.
Federated Hermes, a leader in active investing, has secured a $1 billion private equity mandate from BT Pension Scheme, the UK's major pension fund. This new mandate, named Horizon III, is set to be implemented over three years and will focus on a globally diversified investment strategy, following past successful collaborations. Hermes GPE, the firm's private equity arm, aims to exploit opportunities across significant global megatrends, continuing its track record of delivering strong, risk-adjusted returns. With $631.1 billion in assets under management, Federated Hermes maintains a strong presence in global markets.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a $0.054 tax-free dividend per share. This dividend is exempt from federal income tax as well as the federal alternative minimum tax (AMT). The record date for this dividend is May 23, 2022, with an ex-dividend date of May 20, 2022, and the payment will be made on June 1, 2022.
Federated Hermes, Inc. (NYSE: FHI) manages $631.1 billion in assets and offers a range of investment solutions globally.
Federated Hermes (FHI) reported Q1 2022 earnings per diluted share of $0.61, down from $0.75 in Q1 2021, with net income at $55.9 million, compared to $74.5 million in the prior year. Total managed assets reached $631.1 billion, a decrease of 6% from the previous quarter. The board declared a quarterly dividend of $0.27. Key revenue drivers included long-term assets contributing 72% of the total revenue. Voluntary yield-related fee waivers impacted pre-tax income negatively. The firm continues to navigate a challenging market environment.
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