FHI - Federated Hermes, Inc.

NYSE - NYSE Delayed Price. Currency in USD
-0.97 (-5.20%)
At close: 4:02PM EDT
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Previous Close18.66
Bid17.52 x 800
Ask17.61 x 800
Day's Range17.21 - 18.82
52 Week Range13.06 - 933.03
Avg. Volume1,018,763
Market Cap1.786B
Beta (5Y Monthly)0.90
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.08 (5.79%)
Ex-Dividend DateFeb 05, 2020
1y Target EstN/A
  • Hedge Funds Have Never Been This Bullish On Federated Investors Inc (FII)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Federated Investors Inc (FII)

    We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

  • Fed Breaks Out the Hose Before a Fire for Money Market Funds

    Fed Breaks Out the Hose Before a Fire for Money Market Funds

    (Bloomberg) -- The Federal Reserve is not waiting to see flames before hosing down corners of the money market with emergency liquidity.Late Wednesday night, the central bank launched the Money Market Mutual Fund Liquidity Facility, a program designed to inject cash into some of the safest investment vehicles available. Like other emergency action to keep credit flowing as America hunkers down from the coronavirus, it’s a re-run of the Fed’s crisis-era moves in 2008. But this time, policy makers acted well before pressure on funds reached a desperate stage.“We were seeing some prime funds facing more liquidity issues,” Eric Rosengren, president of the Boston Fed, said Thursday in an interview with Bloomberg News. “Rather than wait until the problem became critical we thought it was important to help provide some liquidity. The goal was to nip this in the bud.”Prime funds are those money funds eligible to invest in debt not backed by the U.S. government. They hold about $1 trillion of the $4.2 trillion industry, according to Crane Data LLC. Most of the rest is parked in funds dedicated to short-term Treasuries and other government-backed debt, with a small fraction invested in short-term municipal debt.A record $249 billion poured in to government-only funds in the week through March 18, according to the Investment Company Institute. Prime funds saw $85.4 billion in outflows.The new facility, administered by the Boston Fed, will make risk-free loans to banks. The banks will use the money to buy assets out of prime money funds and deposit those assets at the Boston Fed as collateral.The program will accept both asset-backed and unsecured commercial paper, as well as government-backed debt and receivables from certain repurchase agreements. The 2008 version accepted only asset-backed commercial paper.Hoarding CashThe aim is generally the same as during the last crisis: to make it easier for companies to issue short-term debt in a time when investors increasingly hoard cash.Deborah Cunningham, chief investment officer for global money markets at Federated Hermes Inc. in Pittsburgh, said institutional clients across the industry were gradually withdrawing money from prime funds, forcing the funds to sell holdings into the secondary market.Institutional money market funds no longer maintain a stable $1 net asset value, so they can no longer “break the buck” by falling below that level, but they do strive to maintain minimum liquidity thresholds -- proportions of their funds that will mature in less than seven and thirty days.Uncomfortable Feeling“Every day this week we have been selling securities to help maintain that cushion, yet every day this week the cushion has been getting smaller,” she said. “That brought fund managers, including ourselves, to a point where we were uncomfortable.”The renewal of a money fund liquidity facility is likely to resuscitate the discussion over how money funds should be regulated.Following the 2008 debacle -- when the Reserve Primary Fund broke the buck in the aftermath of the collapse of investment bank Lehman Brothers, intensifying the global crisis -- that debate lasted eight years before new rules were imposed.Retail SegregationThose rules segregated retail investors from faster-moving institutional money and forced the industry to abandon the $1 share for institutional funds that invest in non-government debt. The funds industry succeeded, however, in blocking even more drastic proposals.The 2016 changes did reduce the amount of money in prime funds, a very positive outcome, Rosengren said. Including retail prime funds, they hold about $1 trillion, according to Crane. In 2008, those funds held more than twice that.Rosengren said money fund assets should be even more heavily concentrated in government-only funds.“People seem to be quite comfortable that government funds will be able to meet their liquidity needs,” he said. “We’re not seeing runs on government funds.”(Updates with money fund flows in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • PNC, other local banks, test remote work contingency plans
    American City Business Journals

    PNC, other local banks, test remote work contingency plans

    Financial institutions in Pittsburgh are exploring measures to cope with the spread of COVID-19. PNC Financial Services Group Inc. said that as part of its business continuity planning, many employees worked from home on Tuesday and some areas of the bank elected to expand or extend for additional days. “This is being done in an effort to exercise our remote work contingency plans that are designed to prevent service disruptions , and out of an abundance of caution, in preparation for potential impacts from the coronavirus,” Marcey Zwiebel, senior vice president and director of corporate public relations, said via email.

  • Worth almost $576B, Federated Hermes weathers volatile markets
    American City Business Journals

    Worth almost $576B, Federated Hermes weathers volatile markets

    CEO J. Christopher Donahue made his first presentation at a financial conference since 65-year-old Pittsburgh-based investment management firm Federated Investors Inc. adopted the new name of Federated Hermes Inc. last month. “What we’re seeing now in our money market mutual funds is business as normal.” Federated Hermes (NYSE:FHI) — the new name is tied to Federated taking a majority stake in London-Based Hermes Fund Managers Ltd. in July 2018 — had $575.9 billion in assets under management as of Dec. 31, 2019.

  • Find Your 'Secretariat' in the Stock Market

    Find Your 'Secretariat' in the Stock Market

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  • Ashmore Group: A Niche Bet on Emerging Markets

    Ashmore Group: A Niche Bet on Emerging Markets

    Another founder-led case showing that small size can produce a large return Continue reading...