Federated Hermes Inc Stock Price, News & Analysis

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.

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.