Workflow
Federated(FHI)
icon
Search documents
Best Income Stocks to Buy for February 20th
Zacks Investment Research· 2024-02-20 13:41
Here are two stocks with buy rank and strong income characteristics for investors to consider today, February 20th:Federated Hermes (FHI) : This company which offers world-class active investment management and engagement services across a wide range of asset classes for investors around the world, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.6% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 3.2%, compared with the industry aver ...
Month-end portfolio data now available for Federated Hermes Premier Municipal Income Fund
Prnewswire· 2024-02-15 15:15
PITTSBURGH, Feb. 15, 2024 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active, responsible investing, today announced that monthly fund composition and performance data for Federated Hermes Premier Municipal Income Fund (NYSE: FMN) as of Jan. 31, 2024, is now available in the Products section of FederatedHermes.com/us. To order hard copies of this data or to be placed on a mailing list, call 800-245-0242 x5587538, email [email protected] or write to Federated Hermes, 1001 Liberty A ...
Why Federated Hermes (FHI) is a Top Momentum Stock for the Long-Term
Zacks Investment Research· 2024-02-02 15:51
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Sco ...
Federated(FHI) - 2023 Q3 - Quarterly Report
2023-10-26 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________________ FORM 10-Q _______________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...
Federated(FHI) - 2023 Q2 - Quarterly Report
2023-08-01 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________________ FORM 10-Q _______________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1 ...
Federated(FHI) - 2023 Q1 - Quarterly Report
2023-05-01 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________________ FORM 10-Q _______________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...
Federated(FHI) - 2023 Q1 - Earnings Call Transcript
2023-04-28 19:29
Federated Hermes, Inc. (NYSE:FHI) Q1 2023 Earnings Conference Call April 28, 2023 9:00 AM ET Company Participants Ray Hanley - President, Federated Investors Management Company Chris Donahue - President and CEO Tom Donahue - VP, CFO and Treasurer Debbie Cunningham - CIO of Money Markets Saker Nusseibeh - CEO, Federated Hermes Limited Conference Call Participants Ken Worthington - JPMorgan Patrick Davitt - Autonomous Research Daniel Fannon - Jefferies Kenneth Lee - RBC Capital Markets John Dunn - Evercore IS ...
Federated(FHI) - 2022 Q4 - Annual Report
2023-02-23 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14818 FEDERATED HERMES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 25-1111467 (State or other jurisdiction of inco ...
Federated(FHI) - 2022 Q4 - Earnings Call Transcript
2023-01-27 15:29
Federated Hermes, Inc. (NYSE:FHI) Q4 2022 Earnings Conference Call January 27, 2023 9:00 AM ET Company Participants Ray Hanley - President, Federated Investors Management Company Chris Donahue - President and Chief Executive Officer Tom Donahue - Vice President, Chief Financial Officer & Treasurer Debbie Cunningham - Chief Investment Officer of Money Markets Saker Nusseibeh - Chief Executive Officer, Federated Hermes Limited Conference Call Participants Patrick Davitt - Autonomous Research Mike Brown - KBW ...
Federated(FHI) - 2022 Q3 - Quarterly Report
2022-10-31 16:00
Financial Performance - Federated Hermes reported a net income attributable to the company of $69.5 million for the three months ended September 30, 2022, compared to $71.4 million for the same period in 2021, representing a decrease of 2.5%[95]. - The total net income attributable to Federated Hermes common stock on a diluted basis was $65.8 million for the three months ended September 30, 2022, compared to $67.9 million for the same period in 2021[95]. - Net income (loss) was $(1,266) thousand for the period ending March 31, 2022[98]. - For the quarter ending June 30, 2022, net income (loss) was $(1,905) thousand, reflecting a decrease from the previous quarter[98]. - Net income attributable to Federated Hermes decreased by $18.7 million for the nine-month period ended September 30, 2022, compared to the same period in 2021[267]. - Diluted earnings per share for the nine-month period ended September 30, 2022 decreased by $0.02, primarily due to decreased net income[267]. Shareholder Returns - The company declared a dividend of $0.27 per share to shareholders, payable on November 15, 2022[106]. - During the nine months ended September 30, 2022, Federated Hermes repurchased approximately 6.1 million shares of its Class B common stock for $199 million[90]. - The company awarded 509,043 shares of restricted Class B common stock during the nine months ended September 30, 2022, primarily as part of a bonus program for key employees[88]. Debt and Liquidity - As of September 30, 2022, the outstanding amount under the revolving credit facility was $50 million, down from $223.4 million as of December 31, 2021, indicating a significant reduction in debt[84]. - The company has $300 million available for borrowings under the revolving credit facility and an additional $200 million via an optional accordion feature as of September 30, 2022[84]. - The interest rate on borrowings from the revolving credit facility was 1.354% as of September 30, 2022, compared to 1.161% as of December 31, 2021[84]. - Liquid assets totaled $508.2 million as of September 30, 2022, an increase from $492.7 million at December 31, 2021[268]. - Net cash provided by operating activities was $191.5 million for the nine months ended September 30, 2022, compared to $101.0 million for the same period in 2021[270]. - Cash used by financing activities was $90.0 million during the nine-month period ended September 30, 2022, primarily due to $311.7 million of debt payments and $211.2 million of treasury stock purchases[273]. - Federated Hermes issued unsecured senior Notes totaling $350.0 million at a fixed interest rate of 3.29% per annum, with the entire principal amount due on March 17, 2032[274]. - As of September 30, 2022, Federated Hermes' interest coverage ratio was 57 to 1, significantly above the required minimum of 4 to 1[276]. Asset Management - As of September 30, 2022, Federated Hermes managed assets totaling $624.4 billion[109]. - Total managed assets decreased by 2% to $624,427 million from $634,120 million year-over-year[233]. - Long-term assets declined by 17% to $183,133 million compared to $220,407 million in the previous year[233]. - Equity fund assets fell by 30% to $40,633 million from $58,218 million year-over-year[237]. - Fixed-income fund assets decreased by 25% to $44,896 million compared to $60,262 million in the previous year[237]. - Money market assets increased by 7% to $441,294 million from $413,713 million year-over-year[233]. - Total fund assets decreased by 4% to $410,852 million compared to $428,608 million in the previous year[235]. - Separate account assets increased by 4% to $213,575 million from $205,512 million year-over-year[233]. - Fixed-Income Funds experienced a net outflow of $2,102 million in the three months ended September 30, 2022, compared to a net inflow of $1,686 million in the same period of 2021[241]. - Alternative/Private Markets Funds reported a net outflow of $298 million for the three months ended September 30, 2022, compared to a net inflow of $646 million in the same period of 2021[245]. Regulatory Environment - The SEC plans to issue final rules on 16 proposed rules by October 2022, impacting the regulatory environment for Federated Hermes[122]. - The SEC's proposed money market fund reforms aim to enhance liquidity requirements and improve resilience against rapid redemptions[123]. - Federated Hermes submitted comment letters opposing several SEC proposals regarding money market fund reforms, emphasizing the importance of these funds for over 50 million retail investors[129]. - The ongoing regulatory developments are expected to continue impacting Federated Hermes' business and financial condition[121]. - The SEC adopted a final rule requiring open-end management investment companies to transmit concise annual and semi-annual reports directly to shareholders, effective from October 26, 2022[151]. - The SEC's "pay versus performance" requirement mandates registrants to disclose how executive compensation relates to financial performance for fiscal years ending on or after December 16, 2022[157]. - The DOL's new fiduciary rule will clarify the evaluation of ESG factors in investment decisions, focusing on material risk-return factors[148]. - The SEC has begun enforcement actions based on ESG disclosures not aligning with actual investment processes, highlighting increased scrutiny on compliance in this area[165]. - The FCA confirmed new rules to enhance oversight of authorized representatives, requiring improved risk assessment and monitoring[201]. - The FCA's new "Consumer Duty" aims to set higher standards for consumer protection, with implementation deadlines extending to July 31, 2024[208]. Market Conditions - The Dow Jones Industrial Average returned -6.7% for the third quarter, while the S&P returned -5.3% and the Nasdaq Composite returned -4.1%[255]. - The impact of the Pandemic and geopolitical events, such as Russia's invasion of Ukraine, is being closely monitored for their effects on asset flows and financial conditions[226]. - The federal funds target rate was raised to a range of 3.00% - 3.25% as of September 2022, eliminating the net negative pre-tax impact of the Voluntary Yield-related Fee Waivers[117]. - The Pandemic has not materially affected Federated Hermes' Financial Condition, except for the impact of near-zero interest rates leading to fee waivers[116]. - Federated Hermes believes money market funds have demonstrated resiliency during the Pandemic, indicating their robustness as investment products[192].