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Federated Hermes, Inc. - FHI STOCK NEWS

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.

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Federated Hermes, Inc. (NYSE: FHI) has launched the Federated Hermes MDT Mid Cap Growth Collective Investment Fund, a strategy for qualified retirement plan investors. The fund aims for capital appreciation by investing in a diversified portfolio of US mid-cap growth companies using MDT's stock-selection process. This process utilizes research, technology, and daily data from multiple market cycles to remove subjective influences.

The fund is trusteed by Great Gray Trust Company, and is Federated Hermes' first equity CIT. It complements four existing fixed-income CITs with Great Gray. The fund is managed by a veteran portfolio management team with extensive experience. As of June 30, 2024, Federated Hermes had $782.7 billion in assets under management.

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Federated Hermes (NYSE: FHI) has released the monthly fund composition and performance data for its Premier Municipal Income Fund (NYSE: FMN) as of August 31, 2024. This information is now accessible in the Products section of FederatedHermes.com/us. Investors can request hard copies or join a mailing list by contacting the company.

Federated Hermes is a global leader in active, responsible investment management with $782.7 billion in assets under management as of June 30, 2024. The company offers a wide range of investment solutions across various asset classes to over 10,000 institutions and intermediaries worldwide. With headquarters in Pittsburgh, Federated Hermes employs more than 2,000 people globally, including offices in London, New York, and Boston.

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Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has initiated a tender offer for up to 32% of its outstanding common shares. The offer expires on October 11, 2024, at 5 p.m. ET. Shareholders can sell their shares at 99% of the net asset value per share in USD, determined at the close of regular NYSE trading on the expiration date. If more than 32% of shares are tendered, purchases will be made on a pro rata basis. The Board of Trustees approved this offer as part of ongoing efforts to enhance shareholder value, address trading discounts, and provide liquidity. Federated Investment Management Company, the fund's advisor, recommended the tender offer. Shareholders can direct questions to Georgeson , the information agent, at (866) 461-7055.

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Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a $0.0380 per share dividend, payable on October 1, 2024. The fund aims to provide investors with current dividend income exempt from regular federal income tax and the federal alternative minimum tax (AMT). The dividend amount remains unchanged from the previous month. The record date and ex-dividend date are set for September 23, 2024.

Federated Hermes, Inc. (NYSE: FHI), the parent company, is a global leader in active, responsible investment management with $782.7 billion in assets under management as of June 30, 2024. The company offers various investment solutions to over 10,000 institutions and intermediaries worldwide, including equity, fixed-income, alternative/private markets, multi-asset, and liquidity management strategies.

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Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has announced plans for a cash tender offer for up to 32% of its outstanding common shares. The offer, set to commence on September 13, 2024, will allow shareholders to tender shares at 99% of the fund's NAV. This move aims to provide shareholders with a potentially better share price than market rates, while non-participating shareholders may benefit from the accretive impact on NAV. The fund will continue to operate as an exchange-listed closed-end fund, focusing on AMT-free tax-exempt income within a leveraged structure. The tender offer is part of an agreement with Saba Capital Management, L.P., which includes standstill covenants and voting commitments.

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Federated Hermes, Inc. (NYSE: FHI) announced that shareholders of the Federated Hermes MDT Large Cap Growth ETF (NYSE: FLCG) have approved changing the fund from a diversified to a non-diversified company. This change, effective September 16, 2024, aims to provide greater long-term flexibility in executing the fund's investment objective, particularly when individual issuer weightings in the Russell 1000® Growth Index exceed diversification limits.

The fund, which seeks long-term capital appreciation by investing in large-cap U.S. companies with higher forecasted growth values, will maintain its active management approach. This change is not expected to substantially affect the fund's investment objective but will enable the adviser to continue using the fund's quantitative model more effectively.

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Federated Hermes, Inc. (NYSE: FHI) has released the monthly fund composition and performance data for Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of July 31, 2024. This information is now accessible in the Products section of FederatedHermes.com/us. Investors can obtain hard copies or join a mailing list by contacting the company.

Federated Hermes is a global leader in active, responsible investment management, managing $782.7 billion in assets as of June 30, 2024. The company offers a wide range of investment solutions across various asset classes to over 10,000 institutions and intermediaries worldwide. With headquarters in Pittsburgh, Federated Hermes employs more than 2,000 people globally, including offices in London, New York, and Boston.

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Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a tax-free dividend of $0.0380 per share, maintaining the same amount as the previous month. The dividend is payable on Sept. 3, 2024, with a record date and ex-dividend date of Aug. 23, 2024. FMN aims to provide investors with current dividend income exempt from regular federal income tax and the federal alternative minimum tax (AMT).

Federated Hermes, Inc. (NYSE: FHI), the fund's parent company, is a global leader in active, responsible investment management with $782.7 billion in assets under management as of June 30, 2024. The company offers various investment strategies to over 10,000 institutions and intermediaries worldwide.

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Federated Hermes, Inc. (NYSE: FHI) announced that the Board of Trustees of Federated Hermes ETF Trust has approved a change in the fundamental policy for the Federated Hermes MDT Large Cap Growth ETF (NYSE: FLCG). The proposed change would shift the fund from a diversified to a non-diversified company, subject to shareholder approval. The record date for majority shareholder consent is set for Aug. 19, 2024, with determination on Aug. 23, 2024.

The change aims to provide greater flexibility in executing the fund's investment strategy, particularly when individual issuer weightings in the Russell 1000® Growth Index exceed diversification limits. If approved, the change is expected to be effective on Aug. 26, 2024. Federated Hermes, with $782.7 billion in assets under management as of June 30, 2024, is seeking this change to enhance long-term strategy execution without substantially affecting the fund's principal investment strategies.

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Federated Hermes, Inc. (NYSE: FHI) reported record assets under management of $782.7 billion for Q2 2024, up 11% from the previous year. Money market assets reached a record $586.6 billion. The company reported earnings per diluted share of $0.20, including a ($0.76) per share non-cash intangible asset impairment charge. Total revenue decreased by 7% year-over-year, primarily due to a decrease in carried interest and lower average equity assets, partially offset by higher average money market assets. The board declared a dividend of $0.31 per share. Despite challenges in equity and alternative/private markets assets, fixed-income assets grew by 9% year-over-year.

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FAQ

What is the current stock price of Federated Hermes (FHI)?

The current stock price of Federated Hermes (FHI) is $36.88 as of October 4, 2024.

What is the market cap of Federated Hermes (FHI)?

The market cap of Federated Hermes (FHI) is approximately 3.1B.

What does Federated Hermes, Inc. specialize in?

Federated Hermes specializes in active, responsible investment management across equity, fixed income, alternative/private markets, multi-asset, and liquidity management strategies.

How much in assets does Federated Hermes manage?

As of December 31, 2023, Federated Hermes manages $757.6 billion in assets.

Who are the primary clients of Federated Hermes?

Federated Hermes' clients include corporations, government entities, insurance companies, foundations, endowments, banks, and broker/dealers.

What channels does Federated Hermes use to distribute its products?

Federated Hermes' products are distributed through trust banks, wealth managers, retail broker-dealers (63% of AUM), institutional investors (28%), and international clients (9%).

How does Federated Hermes contribute to responsible investing?

Federated Hermes engages companies on strategic and sustainability concerns through its world-leading stewardship services, promoting long-term investor performance.

What were the recent financial highlights for Federated Hermes?

For Q3 2023, Federated Hermes reported an EPS of $0.86 and total managed assets of $715.2 billion, reflecting significant growth in money market assets.

What is the significance of Federated Hermes' cash-management operations?

Federated Hermes' cash-management operations are expected to generate around 46% of the firm's revenue, highlighting its importance in the company's overall business strategy.

Who recently joined the Board of Directors at Federated Hermes?

Karen L. Hanlon, an experienced business leader, joined the Board of Directors as an independent director, bringing valuable leadership experience and financial insights.

What are Federated Hermes' goals for its investors?

Federated Hermes aims to help individuals invest and retire better, achieve better risk-adjusted returns for clients, and contribute to positive outcomes in the wider world.

How does Federated Hermes maintain transparency with investors?

Federated Hermes engages in regular financial reporting and earnings calls, providing detailed updates on financial performance and strategic initiatives.

Federated Hermes, Inc.

NYSE:FHI

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FHI Stock Data

3.08B
84.15M
3.47%
80.74%
2.92%
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