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) reported Q3 2021 earnings of $0.73 per share, down from $0.85 in Q3 2020, with net income at $71.4 million compared to $85.8 million last year. Year-to-date EPS declined to $2.04 from $2.29 in 2020. Total managed assets were $634.1 billion, up 3% year-over-year but down 2% from Q2 2021. The firm declared a dividend of $0.27 per share, payable on November 15, 2021. Notably, fixed-income assets reached a record $97.2 billion, driven by positive net flows for six consecutive quarters.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a tax-free dividend of $0.054 per share. This dividend is scheduled with a record date on October 22, 2021, an ex-dividend date of October 21, 2021, and a payable date of November 1, 2021. The fund aims to provide investors with tax-exempt income from federal income tax and the alternative minimum tax (AMT). Federated Hermes, Inc. (NYSE: FHI) manages approximately $645.8 billion in assets as of June 30, 2021.
Federated Hermes, Inc. (NYSE: FHI) will release its financial results for Q3 2021 on October 28, 2021, after market close. A conference call for investors will follow on October 29, 2021, at 9 a.m. Eastern, hosted by CEO J. Christopher Donahue and CFO Thomas R. Donahue. As of June 30, 2021, the company manages $645.8 billion in assets and provides a range of investment strategies to over 11,000 clients globally. For those interested, the call can be accessed via phone or through the company website.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) announced plans to redeem all outstanding Auction Market Preferred Shares (AMPS) on or about Nov. 3, 2021. The AMPS will be redeemed at $25,000 per share, totaling a liquidation preference of $1,175,000. The fund reserves the right to modify the redemption details if net asset value declines. Federated Hermes, Inc. (NYSE: FHI) manages $645.8 billion in assets, focusing on responsible long-term investment strategies.
Federated Hermes, Inc. (NYSE: FHI) announced the launch of the Federated Hermes MDT Market Neutral Fund on September 29, 2021, aiming for long-term capital appreciation while minimizing stock market risk. This fund employs a quantitative model with both long and short stock positions to reduce market volatility impacts, using the ICE BofA 3-Month Treasury Bill Index as a benchmark. Managed by an experienced team with nearly 70 years of combined industry expertise, the fund builds on the historical performance of the Hancock Horizon Fund, which was transitioned to Federated Hermes.
Federated Hermes, Inc. (NYSE: FHI) has completed the acquisition of certain investment management assets from Horizon Advisers, as announced in April 2021. This acquisition involved the transition of approximately $562 million in equity and fixed-income fund assets, reorganizing nine Hancock Horizon mutual funds into Federated Hermes funds. The transition aims to enhance shareholder access to diverse investment strategies and strengthen customer service capabilities. Federated Hermes manages $645.8 billion in assets as of June 30, 2021.
Federated Hermes (NYSE: FHI) has agreed to acquire the remaining 29.5% interest in Hermes Fund Managers Limited (HFML) from BT Pension Scheme (BTPS) for £116.5 million (approximately $161.5 million). This deal, scheduled to close on August 31, 2021, values HFML at £394.9 million ($547.4 million). Federated Hermes previously acquired a 60% stake in HFML in 2018. The acquisition aims to enhance Federated Hermes' investment management and stewardship capabilities while BTPS continues as a significant client with $12 billion in assets managed by Federated Hermes.
Federated Hermes (FHI) reported Q2 2021 EPS of $0.56, down from $0.80 in Q2 2020, with net income at $55.9 million compared to $81.2 million last year. YTD EPS also fell to $1.31 from $1.44. A noncash tax expense of $14.5 million impacted results due to UK corporate tax rate changes. Managed assets reached a record $645.8 billion, up 3% year-over-year. The board declared a dividend of $0.27 per share, payable August 13, 2021. Revenue decreased 14% mainly due to increased fee waivers related to money market funds. Operating expenses decreased 13% as well, reflecting reduced distribution costs.
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?
