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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) reported Q4 2020 earnings per diluted share (EPS) of $0.93, up from $0.81 in Q4 2019, with net income rising to $95.2 million from $82.1 million. For full-year 2020, EPS increased to $3.23 from $2.69, and net income climbed to $326.4 million versus $272.3 million in 2019. Total managed assets reached a record $619.4 billion, growing by 8% year-over-year. The board declared a quarterly dividend of $0.27 per share. Fixed-income assets surged by 22%, while equity and alternative market assets also hit records. Voluntary yield-related fee waivers amounted to $56.1 million in Q4.
Federated Hermes, Inc. (NYSE: FHI) will report its financial results for Q4 and the full year ending December 31, 2020, on January 28, 2021. A conference call for investors and analysts is scheduled for January 29, 2021, at 9 a.m. Eastern. The call will feature President and CEO J. Christopher Donahue and CFO Thomas R. Donahue. Investors can participate by phone or via the company's website. Federated Hermes manages $614.8 billion in assets, focusing on responsible investing across various strategies. For more information, visit FederatedHermes.com.
Federated Hermes, Inc. announced that the Federated Hermes Kaufmann Small Cap Fund will close to new investors starting March 1, 2021. Current investors and employer-sponsored retirement plans will still be able to invest. The fund's assets reached $10.1 billion as of December 24, 2020, a significant growth from $888 million in 2017. The fund is rated 5 stars by Morningstar in the Small Growth category. This decision aligns with Federated Hermes' commitment to responsible investing and fund capacity management.
Federated Hermes Premier Municipal Income Fund (FMN) has declared a dividend of $0.054 per share, marking no change from the previous month. The record date for this dividend is set for Dec. 23, 2020, with an ex-dividend date of Dec. 22, 2020, and a payable date on Jan. 4, 2021. This dividend is exempt from regular federal income tax and alternative minimum tax, making it attractive for investors seeking tax-free income.
Federated Hermes, Inc. (NYSE: FHI) announced that President and CEO J. Christopher Donahue will present at the BofA Securities Future of Financials 2020 Virtual Conference on November 9, 2020, at 11:20 a.m. Eastern. Investors can access a live webcast of the presentation via FederatedHermes.com. The company manages $614.8 billion in assets as of September 30, 2020, and provides investment solutions including equity, fixed-income, and alternative markets.
Federated Hermes, Inc. (FHI) reported Q3 2020 earnings per diluted share of $0.85, up from $0.72 a year ago, with net income reaching $85.8 million compared to $73.0 million in Q3 2019. Year-to-date EPS improved to $2.29 from $1.88 in 2019. Total managed assets were $614.8 billion, an increase of 17% year-over-year. The board declared a dividend of $1.27 per share, including a special dividend of $1.00. Despite strong revenue growth of 12% year-to-date, voluntary fee waivers impacted net income.
Federated Hermes Premier Municipal Income Fund (FMN) has announced a dividend of $0.054 per share, with a record date of October 23, 2020 and an ex-dividend date of October 22, 2020. The payment date is set for November 2, 2020. This dividend is designed to provide investors with income exempt from federal income tax, including the alternative minimum tax (AMT). Federated Hermes, Inc. (FHI) manages $628.8 billion in assets as of June 30, 2020, focusing on responsible investing across various market strategies.
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