Vanguard Discloses 14.0% Stake in SouthState Corp

TL;DR

**Vanguard still owns 14.0% of SouthState Corp, showing strong institutional backing.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in SouthState Corp (SSB) as of December 29, 2023. Vanguard reported beneficial ownership of 10,767,800 shares of SouthState Corp's Common Stock, representing 14.0% of the company. This filing indicates a significant, passive stake by one of the world's largest asset managers, signaling continued institutional confidence in SouthState Corp, which could be reassuring for current and prospective shareholders.

Why It Matters

This filing confirms that a major institutional investor, The Vanguard Group, maintains a substantial stake in SouthState Corp, which can be a positive signal of long-term stability and investor confidence for shareholders.

Risk Assessment

Risk Level: low — This filing indicates a stable, passive institutional ownership, which generally reduces volatility and risk for the stock.

Analyst Insight

A smart investor would view Vanguard's continued significant stake as a sign of long-term stability and potentially consider SouthState Corp for a stable, long-term portfolio, given the institutional confidence.

Key Numbers

• 10,767,800 — Shares Beneficially Owned (Represents the total number of SouthState Corp Common Stock shares Vanguard holds.)
• 14.0% — Percentage of Class (Indicates the significant portion of SouthState Corp owned by Vanguard, highlighting its substantial influence.)
• December 29, 2023 — Event Date (The specific date as of which Vanguard's ownership stake is being reported.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major institutional investor
• SouthState Corp (company) — subject company whose securities are being reported
• 10,767,800 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 14.0% (dollar_amount) — percentage of SouthState Corp's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in SouthState Corp. (The Vanguard Group) — high confidence, target: Next 12 months

FAQ

Filing Documents

• tv01957-southstatecorp.htm (SC 13G/A) — 11KB
• 0001104659-24-021974.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: SouthState Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1101 First Street South Winter Haven, FL 33880

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 840441109

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR