State Farm Mutual Holds 9.40% Stake in GATX Corp.
Ticker: GATX · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 40211
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**State Farm still owns a big chunk of GATX, but their percentage is down slightly.**
AI Summary
State Farm Mutual Automobile Insurance Company and its affiliates, including State Farm Fire and Casualty Company, reported their ownership in GATX Corp. as of December 31, 2023. State Farm Mutual beneficially owns 3,336,000 shares, representing 9.40% of GATX's common stock, while State Farm Fire and Casualty Company owns 1,000 shares, representing 0.00% of the class. This filing, an amendment to a previous SC 13G, indicates a slight decrease in State Farm Mutual's percentage ownership from 9.41% reported in the prior filing to 9.40%, which could signal a minor adjustment in their investment strategy or simply dilution from new share issuance by GATX.
Why It Matters
This filing shows that a major institutional investor, State Farm, maintains a significant stake in GATX, which can be a vote of confidence, but the slight decrease in percentage ownership might warrant further investigation by investors.
Risk Assessment
Risk Level: low — The filing indicates a stable, long-term institutional holding with only minor adjustments, posing low immediate risk to investors.
Analyst Insight
Investors should note State Farm's continued significant, albeit slightly reduced, stake in GATX, suggesting institutional confidence but also a potential minor rebalancing. Monitor future filings for further changes in their position.
Key Numbers
- 3,336,000 — Shares Beneficially Owned by State Farm Mutual (Represents the total shares State Farm Mutual has sole voting and dispositive power over in GATX Corp.)
- 9.40 % — Percentage of Class Owned by State Farm Mutual (Indicates State Farm Mutual's significant ownership stake in GATX Corp. as of December 31, 2023.)
- 1,000 — Shares Beneficially Owned by State Farm Fire and Casualty Company (Represents the total shares State Farm Fire and Casualty Company has sole voting and dispositive power over in GATX Corp.)
- 0.00 % — Percentage of Class Owned by State Farm Fire and Casualty Company (Indicates State Farm Fire and Casualty Company's minimal ownership stake in GATX Corp. as of December 31, 2023.)
- 361448103 — CUSIP Number (Unique identifier for GATX Corp.'s Common Stock.)
Key Players & Entities
- State Farm Mutual Automobile Insurance Company (company) — reporting person, beneficial owner of GATX shares
- GATX CORP (company) — the issuer whose securities are being reported
- State Farm Fire and Casualty Company (company) — reporting person, affiliate of State Farm Mutual
- Illinois (place) — place of organization for State Farm Mutual and State Farm Fire and Casualty Company
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- State Farm will maintain a significant, but potentially slightly adjusted, long-term investment in GATX Corp. (State Farm Mutual Automobile Insurance Company) — high confidence, target: December 31, 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 43) to a previous Schedule 13G, reporting the beneficial ownership of GATX Corp. common stock by State Farm Mutual Automobile Insurance Company and its affiliates as of December 31, 2023.
How many shares of GATX Corp. common stock does State Farm Mutual Automobile Insurance Company beneficially own?
State Farm Mutual Automobile Insurance Company beneficially owns 3,336,000 shares of GATX Corp. common stock, as reported in Row 9 of the Schedule 13G.
What percentage of GATX Corp.'s common stock does State Farm Mutual Automobile Insurance Company own?
State Farm Mutual Automobile Insurance Company owns 9.40% of GATX Corp.'s common stock, as stated in Row 11 of the Schedule 13G.
What is the ownership stake of State Farm Fire and Casualty Company in GATX Corp.?
State Farm Fire and Casualty Company beneficially owns 1,000 shares of GATX Corp. common stock, representing 0.00% of the class, as detailed in its respective section of the Schedule 13G.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'x' in the appropriate box on page 1 of 9 pages.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding GATX CORP (GATX).