Morningstar - Federated Hermes Inc. Class B (FHI) Fewer Fee Waivers and Solid Equity Flows Lift Federateds 2Q Results; Raising FVE to $30 per Share

Report

Morningstar

Greggory Warren, CFA

EUR 147.86 For Business Accounts Only

Fewer Fee Waivers and Solid Equity Flows Lift Federated's 2Q Results; Raising FVE to $30 per Share

We've increased our fair value estimate for narrow-moat rated Federated Investors to $30 per share from $28 after the company reported another solid period of equity flows, as well as better fee revenue from its money market funds operations, during the second quarter of 2016. Federated closed out the June quarter with $367.2 billion in total AUM, reflective of a 0.7% sequential decline and a 5.0% year-over-year increase in its managed assets. Equity AUM increased 12.9% year over year, with infl...

29/07/2016 14 EN

Underlying

Federated Hermes Inc. Class B

Federated Hermes is a provider of investment management products and related financial services. The company sponsors, markets and provides investment-related services to various investment products, including sponsored investment companies and other funds (Federated Funds) and Separate Accounts. The company markets these funds to banks, broker/dealers and other financial intermediaries who use them to meet the needs of customers and/or clients, including retail investors, corporations and retirement plans. The company also provides a range of services to support the operation and administration of the Federated Funds. These services include administrative services and shareholder servicing.

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US3142111034 New York Stock Exchange United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Greggory Warren, CFA

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Fewer Fee Waivers and Solid Equity Flows Lift Federated's 2Q Results; Raising FVE to $30 per Share

GAMCO Investors Inc - Strategy, SWOT and Corporate Finance Report

For FEDERATED HERMES, the environment deterioration entails a downgrade to Neutral

Vital Signs: Actionable charts

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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