FHI - Shares of Federated Hermes Inc. (FHI) Rise Above Previous 52-Week High

Shares of Federated Hermes Inc. (NYSE:FHI) traded today at $39.43, eclipsing its 52-week high. Approximately 144,000 shares have changed hands today, as compared to an average 30-day volume of 693,000 shares.

In the past 52 weeks, shares of Federated Hermes Inc. have traded between a low of $26.37 and a high of $39.43 and is now at $39.14, which is 48% above that low price.

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%).

Federated Hermes Inc. has overhead space with shares priced $39.14, or 5.0% below the average consensus analyst price target of $41.22.

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