SCHEDULE 13G/A: BlackRock Discloses 8.8% Stake in Southstate Corp
Beneficial Ownership Report
BlackRock, Inc. has filed an Amendment No. 18 to its Schedule 13G, reporting beneficial ownership of 8.8% of Southstate Corp's common stock as of June 30, 2025.
Summary
- BlackRock, Inc. beneficially owns 8,953,084 shares of Southstate Corp's common stock.
- This ownership represents 8.8% of the total outstanding common shares of Southstate Corp.
- BlackRock holds sole voting power over 8,666,901 shares.
- BlackRock holds sole dispositive power over 8,953,084 shares.
- This filing is an Amendment No. 18 to a previously filed Schedule 13G.
- The shares are reported as acquired and held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain qualitative financial or operational information to assess sentiment beyond the fact of a significant institutional holding.
Positives
- BlackRock, a major institutional investor, holds a significant 8.8% stake in Southstate Corp, which can be viewed as a vote of confidence in the company.
Future Outlook
No forward-looking statements or guidance regarding Southstate Corp's future performance or strategic direction are provided in this beneficial ownership filing.
Management Comments
- BlackRock, Inc. certifies that the securities 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 Southstate Corp.
Industry Context
This filing reflects a standard disclosure by a large asset manager, BlackRock, regarding its passive investment holdings in a publicly traded company, Southstate Corp. Such disclosures are routine for institutional investors holding more than 5% of a company's stock and provide transparency into significant ownership stakes within the financial sector.
Stakeholder Impact
- Shareholders may view BlackRock's significant 8.8% stake as a positive signal of institutional confidence in Southstate Corp.
Key Dates
| Date | Description |
|---|---|
| January 21, 2025 | Execution date of the Power of Attorney by BlackRock, Inc. |
| June 30, 2025 | Date of event which requires the filing of this statement (reporting period end). |
| July 17, 2025 | Signature date of the Schedule 13G filing. |
Keywords
BlackRock, Southstate Corp, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing
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