Hillsdale Investment Management Inc. Acquires New Holdings in State Street Co. (NYSE:STT)

Hillsdale Investment Management Inc. bought a new position in shares of State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,370 shares of the asset manager's stock, valued at approximately $822,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in State Street by 2.4% in the 4th quarter. American Century Companies Inc. now owns 335,668 shares of the asset manager's stock valued at $32,946,000 after buying an additional 7,833 shares during the period. Mizuho Securities USA LLC increased its stake in State Street by 43.5% in the fourth quarter. Mizuho Securities USA LLC now owns 27,784 shares of the asset manager's stock valued at $2,727,000 after acquiring an additional 8,420 shares during the period. Millstone Evans Group LLC acquired a new position in State Street in the fourth quarter worth about $105,000. Northwest & Ethical Investments L.P. lifted its stake in State Street by 141.9% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,590 shares of the asset manager's stock worth $2,315,000 after purchasing an additional 13,838 shares during the period. Finally, Magnetar Financial LLC lifted its stake in State Street by 77.0% during the fourth quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager's stock worth $409,000 after purchasing an additional 1,813 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $101.87.

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Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

State Street Trading Down 0.9 %

Shares of STT stock traded down $0.83 on Thursday, reaching $91.82. 1,417,373 shares of the stock were exchanged, compared to its average volume of 2,053,380. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a market cap of $26.49 billion, a PE ratio of 11.14, a P/E/G ratio of 1.11 and a beta of 1.44. The stock has a 50 day moving average price of $95.70 and a 200 day moving average price of $94.38.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the previous year, the business posted $2.04 EPS. The company's quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio is presently 36.89%.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.