State Street Corp Amends Con Edison Stake Filing
Ticker: ED · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1047862
| Field | Detail |
|---|---|
| Company | Consolidated Edison Inc (ED) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, utility-sector
TL;DR
**State Street just updated its Con Edison ownership, showing continued institutional backing.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 29, 2024, indicating its ownership of Consolidated Edison Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, stake in the utility company. This matters to investors because State Street's large holding suggests institutional confidence in Consolidated Edison, potentially signaling stability for current and prospective shareholders.
Why It Matters
This filing confirms State Street's ongoing substantial, passive investment in Consolidated Edison, which can be seen as a vote of confidence from a major institutional investor.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor and does not indicate any immediate risk or significant change in company fundamentals.
Analyst Insight
A smart investor would note State Street's continued passive ownership as a sign of institutional stability for Consolidated Edison, but would still conduct their own due diligence on the company's fundamentals and future prospects.
Key Numbers
- 209115104 — CUSIP Number (identifies Consolidated Edison Inc. common stock)
- 04-2456637 — IRS Identification No. (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Consolidated Edison Inc. (company) — the subject company whose stock is being reported
- 0000093751-24-000295 (dollar_amount) — accession number for the filing
- January 29, 2024 (date) — the filing date of the SC 13G/A
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in Consolidated Edison Inc. for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
- Consolidated Edison Inc. will continue to be viewed as a stable utility investment by institutional investors. (Consolidated Edison Inc.) — medium confidence, target: 12/31/2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, indicating a change or update to previously reported beneficial ownership of securities.
Who is the reporting person in this filing?
The reporting person is State Street Corporation, identified with IRS Identification No. 04-2456637.
What is the subject company whose securities are being reported?
The subject company is Consolidated Edison Inc., identified by the CUSIP Number 209115104 for its common stock.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13D-1(B), as indicated by the 'X' next to 'RULE 13D-1 (B)'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding CONSOLIDATED EDISON INC (ED).