Resona Asset Management Co. Ltd. purchased a new stake in State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 88,244 shares of the asset manager's stock, valued at approximately $8,667,000.
Other institutional investors also recently modified their holdings of the company. Westpac Banking Corp increased its holdings in State Street by 2.2% in the 4th quarter. Westpac Banking Corp now owns 54,173 shares of the asset manager's stock worth $5,317,000 after acquiring an additional 1,165 shares during the last quarter. Bryce Point Capital LLC purchased a new position in State Street in the fourth quarter worth $581,000. Huntington National Bank increased its position in shares of State Street by 1.3% during the 4th quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock valued at $1,146,000 after purchasing an additional 150 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in State Street during the fourth quarter valued at approximately $205,000. Finally, Meeder Advisory Services Inc. raised its position in State Street by 4.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,642 shares of the asset manager's stock worth $554,000 after purchasing an additional 258 shares during the period. 87.44% of the stock is owned by institutional investors.
State Street Price Performance
STT stock traded up $0.41 during trading on Friday, hitting $79.41. The stock had a trading volume of 2,338,352 shares, compared to its average volume of 2,180,226. The company's 50-day moving average price is $91.04 and its two-hundred day moving average price is $94.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock has a market capitalization of $22.92 billion, a P/E ratio of 9.64, a PEG ratio of 1.11 and a beta of 1.42. 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 (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 the consensus estimate of $3.27 billion. During the same period in the prior year, the company earned $2.04 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.
State Street Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.83%. State Street's dividend payout ratio is presently 36.89%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Evercore ISI dropped their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Truist Financial cut their price target on shares of State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Finally, Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, State Street currently has a consensus rating of "Hold" and an average price target of $102.43.
View Our Latest Stock Report on State Street
Insider Buying and Selling at State Street
In other news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction 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 disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
About State Street
(
Free Report)
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.
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