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FHI - Federated Hermes: Look Beyond Fourth Quarter Earnings Miss
Federated Hermes Inc.
Summary
Investors shouldn't be concerned about Federated Hermes' below-expectations Q4 2022 earnings, as this was mainly caused by a one-off non-cash impairment charge.
Looking ahead, FHI's AUM should continue to grow, and there is significant upside potential relating to capital allocation.
I make no changes to my Buy rating for FHI; investors should look beyond Federated Hermes' recent quarterly headline earnings miss.