Morningstar

Federated Hermes Inc Class B FHI

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Stock XNYS Rating as of
$59.29 +0.54 (0.92%)
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As of Delayed Price Post-Trading: $59.29 0.00

Company Report

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Short-Term Rates Remaining Higher for Longer Will Benefit Federated Hermes' Money Market Operations

Greggory Warren

oor relative active fund performance, the growth of low-cost index-based products, and the expanding power of the retail-advised channel has Left firms like Federated more dependent on market gains to increase their assets under management, or AUM. We believe there will always be room for active management, but the advantage of getting and retaining placement on platforms will go to asset managers with greater scale, established brands, solid long-term performance, and reasonable fees.

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Price vs Fair Value

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FHI is trading at a 544% premium.
Price
$58.25
Fair Value
$88.00
Uncertainty
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1-Star Price
$39.30
5-Star Price
$92.20
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

With $682.6 billion in money market assets at the end of 2025, Federated is one of the largest domestic money market managers, despite holding less than 10% of the market.

Bears

Federated's prime money market AUM, which generates higher fees than other cash management offerings, has been negatively affected by the use of floating NAVs, redemption fees and other restrictions.

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News

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Trading Information

Previous Close Price
$58.75
Day Range
$58.25–59.68
52-Week Range
$41.71–59.68
Bid/Ask
$23.89 / $94.72
Shares Outstanding
75.91M
Market Cap
$4.50B
Volume/Avg
635,498 / 813,242

Key Statistics

Price/Earnings (Normalized)
11.29
Price/Sales
2.32
Dividend Yield (Trailing)
2.40%
Dividend Yield (Forward)
2.40%
Total Yield
7.09%

Company Profile

Federated Hermes provides asset management services for institutional and individual investors. The firm had $902.6 billion in managed assets at the end of 2025, composed of equity (11%), multi-asset (less than 1%), fixed-income (11%), alternative (2%), and money market (76%) funds. The firm's cash management operations are expected to generate around 55% of Federated's revenue this year, compared with 27%, 10%, and 8%, respectively, for the equity, fixed-income, and alternatives/multi-asset/other operations. The company's products are distributed via trust banks, wealth managers, and retail broker/dealers (68% of AUM), institutional investors (25%), and international clients (7%).
Sector
Financial Services
Industry
Asset Management
Stock Style Box
Small Value
Total Number of Employees
2,091
Website
https://www.federatedhermes.com

Competitors

Valuation

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Metric
FHI
IVZ
AMG
Price/Earnings (Normalized)
 11.2913.3912.14
Price/Book Value
 3.651.323.04
Price/Sales
 2.322.005.30
Price/Cash Flow
 13.717.5311.95
Price/Earnings
FHI
IVZ
AMG

Financial Strength

Metric
FHI
IVZ
AMG
Quick Ratio
 3.077.061.14
Current Ratio
 3.287.061.14
Interest Coverage
 43.49−4.089.90
Quick Ratio
FHI
IVZ
AMG

Profitability

Metric
FHI
IVZ
AMG
Return on Assets (Normalized)
 14.66%3.53%9.27%
Return on Equity (Normalized)
 27.16%9.44%25.94%
Return on Invested Capital (Normalized)
 19.06%5.33%13.32%
Return on Assets
FHI
IVZ
AMG

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