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AI brief of an SEC Form 8-K · Federated Hermes (FHI)

Federated Hermes Q1 EPS rises to $0.89; assets under management reach record $778.7 billion

Positive Impact 3 of 5 earnings Written later

Federated Hermes reported first quarter 2024 earnings per diluted share of $0.89, up from $0.78 a year earlier, on net income of $75.0 million, up from $69.6 million. The board also declared a $1.31 dividend, made up of a $0.31 quarterly dividend, which rose 10.7%, and a $1.00 special dividend, payable May 15, 2024.

Key points

  • Q1 2024 revenue was $396.4 million, up 4% from Q1 2023, driven mainly by higher average money market assets.
  • Total managed assets were a record $778.7 billion at March 31, 2024, up 11% from a year earlier.
  • Equity assets were $80.2 billion, down 4% year over year; fixed-income assets were $96.3 billion, up 10%.
  • Shares purchased in Q1 2024 totaled 1,082,120 Class B shares for $37.0 million.

The filing

CompanyFederated Hermes (FHI)
Form8-K, current report
Filed with the SECApr 25, 2024, 5:21 PM ET
Accession number0001056288-24-000010

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.