Federated Hermes, Inc. (FHI)

Investment Advice

Latest Price

$56.31

TTM P/E

10.49

Normalized P/E

15.05

TTM Div Yield

2.49%

Fwd Div Yield

2.70%

Book Value

17.33

P/B Ratio

3.25

Valuation metrics

EPS: $5.13

Book value / share: $15.94

Formula: √(22.5 × EPS × BVPS)

Graham Number

$42.89

24% downside

Norm. op. income: $366M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$39.86

29% downside

Base FCF: $304M (median of recent 5yr)

Growth: 4%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$66.17

+18% upside

EPS: $5.13

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$76.95

+37% upside

94.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	6.04M	$333.0M	8.36%	+119.8K	2026-06-30
FMR LLC	4.66M	$257.0M	6.45%	+78.4K	2026-06-30
Vanguard Portfolio Management LLC	4.40M	$242.0M	6.08%	-206.7K	2026-06-30
Schneider Downs Wealth Management Advisors, LP	3.55M	$196.0M	4.91%	+823.7K	2026-06-30
Vanguard Capital Management LLC	3.19M	$176.0M	4.42%	-35.9K	2026-06-30
Lsv Asset Management	2.87M	$158.0M	3.97%	-15.2K	2026-06-30
Fuller & Thaler Asset Management, Inc.	2.67M	$147.0M	3.69%	+22.4K	2026-06-30
Charles Schwab Investment Management Inc	2.65M	$146.0M	3.66%	+142.8K	2026-06-30
Sixth Street Partners Management Company, L.P.	2.65M	$146.0M	3.66%	--	2026-06-30
Invesco Ltd.	2.52M	$139.0M	3.49%	+299.1K	2026-06-30