FHI - Federated Hermes Inc.: The Winning Streak Continues (FHI)

Federated Hermes Inc. (NYSE:FHI) traded at a new 52-week high today of $39.82. So far today approximately 159,000 shares have been exchanged, as compared to an average 30-day volume of 721,000 shares.

Over the past year, Federated Hermes Inc. has traded in a range of $26.37 to $39.82 and is now at $38.85, 47% above that low.

There is potential upside of 8.6% for shares of Federated Hermes Inc. based on a current price of $38.85 and an average consensus analyst price target of $42.18.

Federated provides asset management services for institutional and individual investors. The company had $634.1 billion in managed assets at the end of September 2021, composed of equity (15%), multiasset (1%), fixed-income (15%), alternative (4%), and money market (65%) funds. That said, the firm's cash-management operations are expected to generate around a fifth of Federated's revenue this year, compared with 50%, 18%, and 12%, 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%).

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