Federated Hermes, Inc.
- Open
- 63.26
- Day high
- 63.26
- Day low
- 62.80
- Prev close
- 63.65
- Volume
- 15K
- Mkt cap
- $4.7B
- P/E (TTM)
- 11.6
- EPS (TTM)
- $5.44
- P/B
- 3.8
- P/S
- 2.4
- Yield
- 2.29%
- Per share
- $1.44
- ▼Insiders net selling -$1.7M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions mixed (13F)
Federated Hermes, Inc. (FHI) is a Financial Services company listed on NYSE. The stock is up 21% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Federated Hermes, Inc. (FHI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FHI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 31, 2026 | $1.20 | $1.38 | +15.5% | $503M | +3.1% |
| May 1, 2026 | $1.20 | $1.27 | +5.5% | $479M | +0.9% |
| Jan 29, 2026 | $1.20 | $1.39 | +15.7% | $483M | +3.1% |
| Oct 30, 2025 | $1.13 | $1.34 | +18.3% | $469M | +6.0% |
| Jul 31, 2025 | $0.99 | $1.16 | +16.8% | $425M | -1.4% |
| Apr 24, 2025 | $0.91 | $1.10 | +20.6% | $424M | +0.4% |
| Jan 30, 2025 | $0.96 | $1.04 | +8.0% | $425M | +1.6% |
| Oct 24, 2024 | $0.92 | $1.06 | +15.1% | $408M | -0.4% |
| Jul 25, 2024 | $0.89 | $0.96 | +7.7% | $402M | -2.4% |
| Apr 25, 2024 | $0.88 | $0.89 | +1.0% | $398M | -4.0% |
| Jan 25, 2024 | $0.83 | $0.96 | +15.0% | $391M | -1.8% |
| Oct 26, 2023 | $0.82 | $0.86 | +4.5% | $403M | +0.2% |
FHI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 21, 2026 | Germain Peter Jofficer: EVP, CLO & Sec. | Sell | 5,000 | $63.17 |
| Aug 5, 2026 | Nusseibeh Saker Anwarofficer: CEO, Federated Hermes Limited | Sell | 630 | $64.76 |
| Aug 5, 2026 | Nusseibeh Saker Anwarofficer: CEO, Federated Hermes Limited | Sell | 6,400 | $64.19 |
| Jun 23, 2026 | Van Meter Stephenofficer: VP, Chief Compliance Officer | Sell | 1,682 | $59.64 |
| Jun 17, 2026 | Uhlman Paul Aofficer: Vice President | Sell | 6,145 | $58.67 |
| Jun 9, 2026 | Nusseibeh Saker Anwarofficer: CEO, Federated Hermes Limited | Sell | 8,950 | $57.34 |
| May 26, 2026 | Germain Peter Jofficer: EVP, CLO & Sec. | Sell | 409 | $55.31 |
| May 26, 2026 | Uhlman Paul Aofficer: Vice President | Sell | 1,021 | $55.30 |
| May 15, 2026 | Germain Peter Jofficer: EVP, CLO & Sec. | Sell | 5,000 | $54.30 |
| May 8, 2026 | Burke Bryan Mofficer: Vice President | Sell | 4,000 | $54.20 |
| May 4, 2026 | Jones Marie Miliedirector | Grant | 2,000 | — |
| May 4, 2026 | Burke Bryan Mofficer: Vice President | Grant | 35,000 | — |
| May 4, 2026 | BARTOLACCI JOSEPH Cdirector | Grant | 2,000 | — |
| May 4, 2026 | Uhlman Paul Aofficer: Vice President | Grant | 40,000 | — |
| May 4, 2026 | Hanlon Karendirector | Grant | 2,000 | — |
Source: FHI SEC Form 4 filings, latest Aug 21, 2026. For informational purposes only — not investment advice.
See the full FHI insider & 13F page →Federated Hermes, Inc. company profile
Overview
Federated Hermes, Inc. (NYSE:FHI) is a Pittsburgh-based asset management company founded in 1955 that has grown to become one of the largest money market fund managers in the United States. The company went public in 1998 and operates as a publicly owned asset management holding company through its various subsidiaries. With over $830 billion in assets under management as of 2024, Federated Hermes serves a diverse client base including individuals, institutions, pension plans, and investment advisors across global markets. The firm has expanded its operations internationally with offices in New York City and London, United Kingdom, positioning itself as a global investment management platform.
Business
Federated Hermes operates in the asset management industry, which involves pooling investor capital and professionally managing these funds across various investment strategies and asset classes. The company provides investment management services through four primary business segments: Money Market Strategies represent the company's largest and most dominant business segment, accounting for approximately 76% of total assets under management with $630 billion. Money market funds are investment vehicles that invest in short-term, high-quality debt securities such as Treasury bills, commercial paper, and certificates of deposit. These funds serve as cash management tools for investors, offering liquidity, capital preservation, and modest returns. Federated Hermes has built a leading market position with an estimated 7.2% market share in U.S. money market funds. Equity Strategies manage approximately $83 billion in assets, focusing on stock investments across various market capitalizations and investment styles. The company offers both traditional fundamental analysis approaches and quantitative strategies, including their growing MDT (Multi-Dimensional Thinking) fundamental quantitative strategies that have reached over $13 billion in assets. These strategies combine systematic analysis with fundamental research to identify investment opportunities. Fixed Income Strategies oversee about $100 billion in assets, investing in bonds and other debt securities across different duration periods and credit qualities. The firm manages ultra-short, short-term, and intermediate-term investments in mortgage-backed securities, U.S. government bonds, corporate bonds, high-yield securities, and municipal bonds. Alternative and Private Markets represent the company's fastest-growing segment with approximately $20 billion in assets. This includes private equity funds, direct lending strategies, real estate investments, and infrastructure projects. The company is actively expanding this platform through new fund launches and strategic acquisitions, including their recent acquisition of Rivington Energy Management Limited to enhance renewable energy capabilities.
Competitive moat
Federated Hermes possesses a moderate competitive moat primarily built around its dominant position in money market funds and institutional relationships. The company's strongest competitive advantage lies in its scale and market share in money market management, where it has achieved approximately 7.2% of the U.S. market. This scale provides operational efficiencies, regulatory compliance advantages, and the ability to offer competitive yields to investors. The firm benefits from institutional switching costs, as large corporate and institutional clients face significant operational complexity when changing money market fund providers. These relationships often involve integrated cash management systems, custody arrangements, and regulatory reporting that create friction for client departures. Additionally, the company's long operating history since 1955 and regulatory compliance track record provide credibility with institutional investors who prioritize safety and reliability in cash management. However, the moat faces several challenges. The asset management industry is highly competitive with low barriers to entry for new investment strategies, and the company competes against much larger players like BlackRock, Vanguard, and Fidelity who have greater scale and resources. The ongoing shift toward passive investing and lower-cost ETFs pressures traditional active management fees across equity and fixed income strategies. In money markets specifically, the company faces potential disruption from central bank digital currencies and direct government investment options that could bypass traditional money market funds. The firm's expansion into alternative investments, while strategically sound, enters markets with established competitors and higher execution risks. Overall, while Federated Hermes has built a solid franchise in money market management, the moat is not exceptionally wide and requires continuous investment in technology, performance, and client service to maintain competitive positioning.
Risks & safety
Federated Hermes demonstrates a strong margin of safety with solid financial fundamentals and conservative capital structure. • Cash Position: $387 million in cash and short-term investments with minimal debt burden • Debt Level: Debt-to-equity ratio of 0.43, indicating moderate leverage well within manageable limits • Solvency: Current ratio of 3.04 and quick ratio of 3.04 show strong liquidity position with no immediate solvency concerns • Cash Generation: Strong free cash flow of $343 million annually, providing substantial cash generation capabilities • Valuation Metrics: Trading at P/E of 7.8, EV/EBITDA of 5.9, and price-to-book of 2.9 - reasonable valuations for a profitable asset manager • Return Metrics: ROE of 9.4% demonstrates efficient capital utilization • Dividend Coverage: Strong earnings coverage for dividend payments with recent 10% dividend increase • Other Considerations: Asset-light business model with revenue tied to market performance creates some volatility but minimal capital requirements for growth
Recent development
Over the past few years, Federated Hermes has executed several strategic initiatives to diversify beyond its traditional money market fund dominance. The company has significantly expanded its alternative and private markets platform, launching multiple new funds including European Direct Lending, Global Private Equity Co-invest funds, and Nature Impact strategies. The recent acquisition of Rivington Energy Management Limited demonstrates their commitment to building capabilities in renewable energy and infrastructure investing. The firm has also accelerated development of its MDT (Multi-Dimensional Thinking) quantitative strategies, which have grown from a nascent offering to over $13 billion in assets with $3.4 billion in net sales during 2024. These strategies combine systematic analysis with fundamental research, representing a modern approach to active management that has resonated with institutional investors. Product innovation has been another key focus, with the launch of four new active ETFs and expansion of collective investment trusts to meet evolving client preferences for lower-cost investment vehicles. The company has also invested heavily in technology infrastructure and global platform capabilities to support growth across all business segments. ESG integration remains a core component of the investment process, with the firm positioning environmental, social, and governance factors as risk-reward analysis tools rather than following purely values-based approaches. This pragmatic stance has helped navigate the evolving ESG landscape while maintaining investment performance focus. The company has maintained an active capital allocation strategy, increasing dividends by nearly 10% while repurchasing over 3 million shares in Q1 2025, demonstrating confidence in the business model and commitment to returning capital to shareholders.
FHI company profile · for informational purposes only — not investment advice.
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