State Street Amends RLI Corp Stake, Maintains Passive Investment
Ticker: RLI · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 84246
| Field | Detail |
|---|---|
| Company | Rli Corp (RLI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street updated its RLI Corp holdings, still a big passive investor.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 30, 2024, disclosing its ownership of RLI Corp common stock as of December 31, 2023. This filing indicates State Street's continued significant, but passive, investment in RLI Corp, a fire, marine, and casualty insurance company. This matters to investors because State Street's large holding suggests institutional confidence in RLI Corp, but any future changes in their stake could influence stock price due to the sheer volume of shares involved.
Why It Matters
Large institutional holdings like State Street's can provide a signal of confidence in a company, but also mean significant selling could create downward pressure on the stock.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate change in investment strategy or control.
Analyst Insight
Investors should note State Street's continued presence as a significant, passive holder, which can be a sign of stability, but this filing itself doesn't warrant immediate action.
Key Numbers
- 749607107 — CUSIP Number (identifies RLI Corp's common stock)
- 04-2456637 — IRS Identification No. (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- RLI Corp (company) — the subject company whose common stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 30, 2024 (date) — the filing date of the SC 13G/A
- 0000093751-24-000436 (other) — accession number of the filing
Forward-Looking Statements
- State Street Corporation will maintain its passive investment strategy in RLI Corp. (State Street Corporation) — high confidence, target: Next 12 months
- RLI Corp's stock price will not experience significant volatility directly due to this specific filing. (RLI Corp) — high confidence, target: Next 30 days
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, as explicitly stated on page 2 of 7 of the filing.
What is the 'Subject Company' or 'Issuer' of the securities?
The 'Subject Company' or 'Issuer' is RLI CORP, as identified in the filing's header and on page 1 of 7.
What is the 'Date of Event Which Requires Filing of This Statement'?
The 'Date of Event Which Requires Filing of This Statement' is 12/31/2023, as specified on page 1 of 7 of the filing.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13D-1 (B), as indicated by the 'X' in the appropriate box on page 1 of 7.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding RLI CORP (RLI).