PITTSBURGH (AP) – Federated Hermes, Inc. (FHI) on Thursday reported fourth quarter earnings of $ 95.2 million.
The Pittsburgh-based company said it had net earnings of 93 cents per share.
The results exceeded Wall Street’s expectations. The average estimate by four analysts surveyed by Zacks Investment Research resulted in earnings of 80 cents per share.
The nation’s largest money market fund manager had revenues of USD 363.9 million in the reporting period.
For the year, the company reported earnings of $ 326.4 million, or $ 3.23 per share. The turnover was given with 1.45 billion US dollars.
Federated Hermes stock is up just over 1% since the start of the year. In the last few minutes of trading on Thursday, shares hit $ 29.30, down 14% over the past 12 months.
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