State Street Corp. Holds 9.4% Stake in CA Water Service Group
Ticker: CWT · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1035201
| Field | Detail |
|---|---|
| Company | California Water Service Group (CWT) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still owns a big chunk of California Water Service Group, good sign for stability.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 29, 2024, disclosing its ownership in California Water Service Group. As of December 31, 2023, State Street Corporation reported beneficial ownership of 5,347,780 shares of common stock, representing 9.4% of the company's outstanding shares. This filing indicates a significant institutional stake, which can be a sign of confidence in the utility company's long-term stability and dividend prospects, potentially reassuring current and prospective investors.
Why It Matters
This filing shows a major institutional investor, State Street Corporation, maintains a significant stake in California Water Service Group, signaling their continued confidence in the company's stability and future performance.
Risk Assessment
Risk Level: low — This filing is an update on an existing passive investment by a large institution, indicating stability rather than immediate risk.
Analyst Insight
Investors should view this as a confirmation of institutional interest in California Water Service Group, suggesting stability, but it doesn't indicate any new strategic moves or immediate catalysts.
Key Numbers
- 5,347,780 — Shares Beneficially Owned (Represents State Street Corporation's total stake in California Water Service Group as of December 31, 2023.)
- 9.4% — Percentage of Class (Indicates the proportion of California Water Service Group's common stock owned by State Street Corporation, a significant institutional holding.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and beneficial owner
- California Water Service Group (company) — the issuer of the securities
- 5,347,780 (dollar_amount) — number of shares beneficially owned
- 9.4% (dollar_amount) — percentage of class beneficially owned
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- State Street Corporation will likely maintain its significant stake in California Water Service Group for the foreseeable future. (State Street Corporation) — high confidence, target: 2025-12-31
FAQ
Who filed this SC 13G/A amendment?
This SC 13G/A amendment was filed by State Street Corporation, as indicated in the 'NAME OF REPORTING PERSON' section of the filing.
What company's stock is the subject of this filing?
The subject company is CALIFORNIA WATER SERVICE GROUP, as stated under 'NAME OF ISSUER' in the filing.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified in the filing.
How many shares of California Water Service Group does State Street Corporation beneficially own according to this filing?
State Street Corporation beneficially owns 5,347,780 shares of Common Stock, as detailed in the filing's cover page and subsequent sections.
What percentage of California Water Service Group's common stock does State Street Corporation own?
State Street Corporation beneficially owns 9.4% of the class of securities, as reported in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding CALIFORNIA WATER SERVICE GROUP (CWT).