FMR LLC & Abigail Johnson Disclose 6.485% Stake in Federated Hermes
Ticker: FHI · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 1056288
| Field | Detail |
|---|---|
| Company | Federated Hermes, Inc. (FHI) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, insider-holding
TL;DR
**FMR LLC and Abigail Johnson just revealed a 6.485% stake in Federated Hermes, signaling institutional confidence.**
AI Summary
FMR LLC, a parent holding company, and its principal owner, Abigail P. Johnson, have reported a 6.485% beneficial ownership stake in FEDERATED HERMES INC's Class B Common Stock, totaling 5,593,701 shares. This filing, dated February 9, 2024, indicates a significant passive investment by FMR LLC, which is known for its affiliation with Fidelity Investments. For investors, this signals that a major institutional player sees value in Federated Hermes, potentially boosting confidence in the stock's long-term prospects.
Why It Matters
This filing shows a major institutional investor, FMR LLC (Fidelity's parent), and its leader, Abigail P. Johnson, have a significant stake in Federated Hermes, which can be a vote of confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by showing external validation.
Analyst Insight
A smart investor would view this as a positive signal, indicating that a major institutional player sees value in Federated Hermes. It might warrant further research into Federated Hermes' fundamentals, as this institutional backing could provide a floor for the stock price.
Key Numbers
- 5,593,701 — Shares Beneficially Owned (Represents the total number of Class B Common Stock shares of FEDERATED HERMES INC held by FMR LLC and Abigail P. Johnson.)
- 6.485% — Percentage of Class (Indicates the proportion of FEDERATED HERMES INC's Class B Common Stock beneficially owned by the reporting persons.)
- 20240209 — Filing Date (The date the SC 13G filing was made, providing a timestamp for the reported ownership.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- FEDERATED HERMES INC (company) — issuer of the securities
- 5,593,701 (dollar_amount) — total shares beneficially owned
- 6.485% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- FMR LLC will maintain its passive investment in FEDERATED HERMES INC's Class B Common Stock. (FMR LLC) — high confidence, target: 12-2024
- The significant stake by FMR LLC could attract other institutional investors to FEDERATED HERMES INC. (FEDERATED HERMES INC) — medium confidence, target: 08-2024
FAQ
Who are the reporting persons in this SC 13G filing?
The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing.
What is the name of the issuer whose securities are being reported?
The issuer is FEDERATED HERMES INC, as identified in Item 1(a) of the filing.
What class of securities is being reported in this filing?
The filing reports ownership of CLASS B COMMON STOCK, as specified in Item 2(d).
How many shares of FEDERATED HERMES INC Class B Common Stock are beneficially owned by the reporting persons?
FMR LLC and Abigail P. Johnson beneficially own 5,593,701 shares of Class B Common Stock, as detailed in Item 7 and Item 9 for both reporting persons.
What percentage of the Class B Common Stock does this beneficial ownership represent?
The beneficial ownership represents 6.485% of the Class B Common Stock, as stated in Item 11 for both FMR LLC and Abigail P. Johnson.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding FEDERATED HERMES, INC. (FHI).