Federated Hermes Inc. (NYSE:FHI) traded at a new 52-week high today of $31.86. So far today approximately 52,000 shares have been exchanged, as compared to an average 30-day volume of 712,000 shares.
Federated provides asset management services for institutional and individual investors. The company’s $619.4 billion in managed assets at the end of 2020 were composed of equity (15%), multiasset (1%), fixed-income (14%), alternative (3%), and money market (67%) funds. That said, the firm’s cash-management operations are expected to generate 35%-40% of Federated’s revenue this year, compared with 40%, 15%, and 8%, respectively, for the firm’s equity, fixed-income and alternatives/multi-asset operations. From a channel perspective, the company’s products are distributed via trust banks, wealth managers and retail broker/dealers (63% of AUM), institutional investors (25%), and international clients (12%).
Federated Hermes Inc. (NYSE:FHI) is currently priced 0.4% above its average consensus analyst price target of $31.23.
Federated Hermes Inc. share prices have moved between a 52-week high of $31.86 and a 52-week low of $18.18 and are now trading 73% above that low price at $31.37 per share.
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