SCHEDULE: State Farm Amends HNI Corp. Stake to 9.43%

State Farm entities collectively report a 9.43% beneficial ownership stake in HNI Corporation, totaling 4,320,023 common shares.

Summary

• State Farm Mutual Automobile Insurance Company, State Farm Fire and Casualty Company, State Farm Investment Management Corporation, and State Farm Insurance Companies Employee Retirement Trust collectively hold 4,320,023 shares of HNI Corporation common stock.
• This represents 9.43% of HNI Corporation's outstanding common stock.
• State Farm Mutual Automobile Insurance Company holds 1,761,600 shares, representing 3.85% of the class, with sole voting and dispositive power.
• State Farm Fire and Casualty Company holds 492,000 shares, representing 1.07% of the class, with sole voting and dispositive power.
• State Farm Investment Management Corporation holds 1,395,100 shares, representing 3.05% of the class, with shared voting and dispositive power.
• State Farm Insurance Companies Employee Retirement Trust holds 671,323 shares, representing 1.47% of the class, with sole voting and dispositive power.
• The reporting persons collectively have sole voting power over 2,924,923 shares and shared voting power over 1,395,100 shares.
• They also have sole dispositive power over 2,924,923 shares and shared dispositive power over 1,395,100 shares.
• This filing is Amendment No. 47 to previous Schedule 13G filings.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of HNI Corporation.

Sentiment

Score: 5

Explanation: This is a factual report of beneficial ownership, which is neutral in sentiment. The presence of a large institutional investor can be seen as a positive signal, but the filing itself does not convey explicit positive or negative sentiment regarding the issuer's performance.

Positives

• The continued significant institutional investment by State Farm entities, totaling 9.43% of HNI Corporation's common stock, indicates a notable level of confidence in the company.
• The investment is explicitly stated to be held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a stable, long-term passive investment.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The continued significant stake by State Farm entities, a major institutional investor, may signal long-term confidence in HNI Corporation, potentially reassuring other investors and supporting share price stability.
• Management: Awareness of a large, passive institutional holder may subtly influence strategic decisions, although the filing explicitly states no intent to influence control.

Key Dates

Keywords

HNI Corporation, State Farm, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, Equity Stake, SEC Filing