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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 reported Q1 2021 earnings per diluted share of $0.75, up from $0.63 in Q1 2020, driven by a net income of $74.5 million. Total managed assets rose to $625.0 billion, growing 3% year-over-year. Notably, equity assets reached a record $96.2 billion, and fixed-income assets also hit a record $86.5 billion. The board declared a $0.27 dividend per share and approved a new share repurchase plan allowing up to 4 million shares to be bought back. However, revenue fell 5% year-over-year due to increased fee waivers.
Federated Hermes announced plans to acquire investment management assets from Horizon Advisers, reorganizing nine Hancock Horizon mutual funds into larger Federated Hermes funds. This transition involves approximately $568 million in assets, encompassing seven equity and two municipal bond funds. The reorganization has been approved by relevant boards and awaits shareholder approval, with meetings planned for September 2021. The firm aims to enhance its active investment strategies and maintain superior client service.
Federated Hermes (NYSE: FHI) will release its financial results for the quarter ending March 31, 2021, on April 29, 2021. A conference call will follow on April 30 at 9 a.m. Eastern, hosted by CEO J. Christopher Donahue and CFO Thomas R. Donahue. As of December 31, 2020, the firm manages $619.4 billion in assets across various investment strategies, serving over 11,000 clients worldwide. The Annual Shareholder Meeting will also occur via teleconference on April 29 at 4 p.m. Eastern.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a tax-free dividend of $0.054 per share, with the record date set for March 23, 2021, and the payable date on April 1, 2021. This fund aims to provide investors with current income that is exempt from federal income tax and the alternative minimum tax (AMT). Federated Hermes manages approximately $619.4 billion in assets, emphasizing responsible investing as a wealth-building strategy.
Federated Hermes, a leader in active investing, announced that President and CEO J. Christopher Donahue will participate in a virtual discussion at the 2021 RBC Capital Markets Global Financials Conference on March 9, 2021, from 2 to 2:30 p.m. Eastern. Investors can access a live webcast through FederatedHermes.com starting 15 minutes prior to the presentation. As of December 31, 2020, the firm managed $619.4 billion in assets, offering a range of investment strategies to over 11,000 clients globally.
Federated Hermes, Inc. (NYSE: FHI), a leader in active, responsible investing, filed its annual report on Form 10-K with the U.S. SEC for the fiscal year ending Dec. 31, 2020. The firm reported $619.4 billion in assets under management, reflecting its commitment to long-term wealth creation through responsible investing. Federated Hermes offers a diverse range of investment solutions including equity, fixed-income, and alternative strategies, serving over 11,000 institutions globally. The company's operations span various major cities, including Pittsburgh, London, New York, and Boston.
Federated Hermes, a leader in active investing, announced that President and CEO J. Christopher Donahue will engage in a virtual discussion at the Credit Suisse Virtual Financial Services Forum on February 24, 2021, from 9:40 to 10:20 a.m. Eastern. Investors can access a live webcast of the event via FederatedHermes.com. With $619.4 billion in assets under management as of December 31, 2020, Federated Hermes offers diverse investment solutions across various strategies and serves over 11,000 clients globally.
Federated Hermes, Inc. (NYSE: FHI) launched the Conservative Microshort Fund and Conservative Municipal Microshort Fund to enhance liquidity management and yield potential. These actively managed funds target higher yields than typical money market strategies while aiming for lower net asset value volatility. The Conservative Microshort Fund focuses on capital preservation and current income, while the Conservative Municipal variant emphasizes tax-exempt income. Both funds will be managed by experienced teams with significant industry expertise, utilizing rigorous analysis and proprietary ESG insights.
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