Federated Hermes (FHI)

• Market cap: $3.36B
• 1 day: 0.69%
• 5 days: -3.64%
• 1 month: -0.89%
• 3 months: 14.09%
• 6 months: 28.40%
• Year to date: 21.45%
• 1 year: 21.85%
• 5 years: 24.43%
• 10 years: 24.70%
• Sector: Financials
• Industry: Investment Advice

About: Federated Hermes provides asset-management services for institutional and individual investors. The firm had $800 billion in managed assets at the end of September 2024, composed of equity (10%), multi-asset (less than 1%), fixed-income (12%), alternative (3%), and money market (74%) funds. The firm's cash-management operations are expected to generate around 51% of Federated's revenue this year, compared with 29%, 12%, and 7%, respectively, for the equity, fixed-income, and alternatives/multi-asset operations. The company's products are distributed via trust banks, wealth managers, and retail broker/dealers (65% of AUM), institutional investors (26%), and international clients (9%).

Employees: 2,025

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

8% more capital invested

Capital invested by funds: $2.16B [Q2] → $2.33B (+$171M) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 2 [Q2] → 2 (+0) [Q3]

2.74% less ownership

Funds ownership: 78.05% [Q2] → 75.31% (-2.74%) [Q3]

5% less funds holding

Funds holding: 310 [Q2] → 294 (-16) [Q3]

29% less repeat investments, than reductions

Existing positions increased: 86 | Existing positions reduced: 121

31% less first-time investments, than exits

New positions opened: 35 | Existing positions closed: 51

64% less call options, than puts

Call options by funds: $655K | Put options by funds: $1.84M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $39 5% downside
• Avg. target: $43 4% upside
• High target: $46 12% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Deutsche Bank Brian Bedell 75% 1-year accuracy 30 / 40 met price target	10% upside $45	Buy Maintained	11 Nov 2024
Evercore ISI Group John Dunn 73% 1-year accuracy 11 / 15 met price target	5% upside $43	Outperform Maintained	7 Nov 2024
RBC Capital Kenneth Lee 69% 1-year accuracy 45 / 65 met price target	5% downside $39	Sector Perform Maintained	28 Oct 2024
TD Cowen Bill Kirk 50% 1-year accuracy 11 / 22 met price target	12% upside $46	Buy Upgraded	28 Oct 2024
UBS Adam Beatty 30% 1-year accuracy 3 / 10 met price target	3% downside $40	Neutral Maintained	22 Oct 2024