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. reports developments in active investment management across liquidity management, equity, fixed-income, alternative/private markets and multi-asset strategies for institutional and intermediary clients. Recurring updates cover earnings, managed-asset levels and flows, money market and equity asset trends, quarterly common-stock dividends, investor conference participation and shareholder-meeting matters.
Company news also includes product and platform actions, including dividends for Federated Hermes Premier Municipal Income Fund, leverage changes at that fund, leadership succession within investment-management units and completed acquisitions such as Federated Hermes FCP Manager, LLC, which expanded the firm's U.S. real estate and private-markets capabilities.
Federated Hermes (NYSE: FHI) has announced the availability of monthly fund composition and performance data for the Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of November 30, 2024. The data can be accessed in the Products section of FederatedHermes.com/us.
The company, managing $800.5 billion in assets as of September 30, 2024, serves over 10,000 institutions and intermediaries worldwide. Federated Hermes specializes in active, responsible investment management, offering equity, fixed-income, alternative/private markets, multi-asset, and liquidity management strategies. With headquarters in Pittsburgh and over 2,000 employees across London, New York, Boston, and other global offices, they serve diverse clients including corporations, government entities, insurance companies, foundations, endowments, and financial institutions.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a tax-free dividend of $0.0400 per share, representing a $0.0020 increase from the previous month. The dividend will be payable on January 2, 2025, to shareholders of record as of December 23, 2024.
The dividend increase stems from higher portfolio income achieved by reducing mid- and high-quality securities in favor of higher-yielding BBB and lower-rated securities. Additionally, the fund announced board changes effective January 1, 2025, with Maureen Lally-Green and P. Jerome Richey retiring, and Karen L. Larrimer, Max F. Miller, and Frank J. Nasta joining as independent trustees.
Federated Hermes (NYSE: FHI) has announced the availability of monthly fund composition and performance data for the Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of October 31, 2024. The data can be accessed in the Products section of FederatedHermes.com/us.
The company, managing $800.5 billion in assets as of September 30, 2024, serves over 10,000 institutions and intermediaries worldwide. Federated Hermes provides various investment solutions including equity, fixed-income, alternative/private markets, multi-asset, and liquidity management strategies. With headquarters in Pittsburgh, the company employs more than 2,000 people across offices in London, New York, Boston, and worldwide.
Federated Hermes (NYSE: FHI) reported record Q3 2024 results with total assets under management reaching $800.5 billion, up 12% year-over-year. The company achieved earnings per share of $1.06, compared to $0.86 in Q3 2023, with net income of $87.5 million. Money market assets hit a record $593.0 billion, while fixed-income assets reached a record $100.2 billion. The board declared a $0.31 per share dividend and authorized a new 5-million share repurchase program. Revenue increased by $5.8 million or 1% year-over-year, primarily driven by higher average money market assets.
Federated Hermes, Inc. (NYSE: FHI) has announced that monthly fund composition and performance data for Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of Sept. 30, 2024, is now available on their website. Interested parties can access this information in the Products section of FederatedHermes.com/us.
For those preferring hard copies or to be added to a mailing list, contact options are provided. Federated Hermes, Inc. is described as 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 range of investment solutions across various asset classes and strategies to over 10,000 institutions and intermediaries worldwide.
Headquartered in Pittsburgh, Federated Hermes employs more than 2,000 people globally, with offices in London, New York, Boston, and other locations worldwide.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has announced the final results of its tender offer. Due to oversubscription, the fund will purchase 32% of its issued and outstanding common shares on a pro rata basis. The purchase price is set at $12.67 per common share, which is 99% of the net asset value per common share as of October 11, 2024.
A total of 4,988,295 common shares were properly tendered, and the fund accepted 3,679,390 shares for payment. The proration factor is 0.7376799. 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.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) announced the expiration of its tender offer for 3,679,390 common shares, representing about 32% of outstanding shares. The offer, which closed on Oct. 11, 2024, was oversubscribed with 4,988,295 shares tendered. Due to oversubscription, purchases will be made on a pro-rata basis at 99% of the NAV per share, equaling $12.67 per share.
Federated Hermes, Inc. (NYSE: FHI), the parent company, is a global investment management firm 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, employing more than 2,000 people globally.
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a dividend of $0.0380 per share, unchanged from the previous month. The fund aims to provide investors with current dividend income exempt from regular federal income tax and the federal alternative minimum tax (AMT). Key dates for the dividend are:
- Record Date: Oct. 23, 2024
- Ex-Dividend Date: Oct. 23, 2024
- Payable Date: Nov. 1, 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, employing more than 2,000 people globally.
Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, has announced its third quarter 2024 earnings report and conference call dates. The company will release its financial and operating results for the quarter ended Sept. 30, 2024, after market close on Thursday, Oct. 24, 2024. A conference call for investors and analysts is scheduled for 9 a.m. Eastern on Friday, Oct. 25, 2024, hosted by President and CEO J. Christopher Donahue and CFO Thomas R. Donahue.
Investors can access the call by dialing 888-506-0062 (domestic) or 973-528-0011 (international), or via the company's website. A replay will be available by phone and online. As of June 30, 2024, Federated Hermes managed $782.7 billion in assets, serving over 10,000 institutions and intermediaries worldwide with various investment solutions.
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.