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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 (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.
Federated Hermes, Inc. (NYSE: FHI) will announce its financial results for Q2 2021 on July 29, 2021, after market close. A conference call will follow on July 30, 2021, at 9 a.m. Eastern, hosted by CEO J. Christopher Donahue and CFO Thomas R. Donahue. As of March 31, 2021, the firm manages $625.0 billion in assets, providing a range of investment solutions to over 11,000 clients worldwide. Interested parties can join the call via phone or online at FederatedHermes.com.
Federated Hermes Premier Municipal Income Fund (FMN) has declared a tax-free dividend of $0.054 per share. The record date for this dividend is June 23, 2021, with the ex-dividend date set for June 22, 2021. Payments are scheduled for July 1, 2021. This dividend is designed to provide investors with income that is exempt from federal income tax, including the alternative minimum tax (AMT). Federated Hermes manages $625.0 billion in assets as of March 31, 2021, emphasizing responsible investing.
Federated Hermes, Inc. (NYSE: FHI) announced that Vice President and CFO Thomas Donahue will participate in a fireside chat at the Deutsche Bank 11th Annual Global Financial Services Conference on June 2, 2021, at 1:20 p.m. Eastern. Joining him will be Raymond Hanley, president of Federated Investors Management Company. Investors can listen to the live webcast on FederatedHermes.com. As of March 31, 2021, Federated Hermes manages $625.0 billion in assets and serves over 11,000 clients globally.
Federated Hermes, Inc. (NYSE: FHI) announced the launch of the Responsible Investing Institute on May 13, 2021, aimed at educating the investment community about responsible investing and ESG factors. Developed in collaboration with KKS Advisors, the institute offers a three-course curriculum to enhance financial professionals' understanding of ESG. Surveys revealed 90% of financial advisors received inquiries about ESG investing but only 25% felt prepared to engage clients. The courses provide essential skills for advisors, and additional learning resources, including podcasts, complement the curriculum.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has announced a dividend of $0.054 per share, exempt from federal income tax and alternative minimum tax. The record date for this dividend is May 21, 2021, with an ex-dividend date of May 20, 2021 and a payable date of June 1, 2021. Founded on the principle of responsible investing, Federated Hermes manages $625.0 billion in assets as of March 31, 2021, providing diverse investment solutions to over 11,000 clients globally.
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