Alpha DNA Investment Management LLC purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,384 shares of the asset manager's stock, valued at approximately $823,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Adero Partners LLC grew its stake in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after purchasing an additional 103 shares during the period. Jacobi Capital Management LLC grew its position in State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after buying an additional 121 shares during the last quarter. Moors & Cabot Inc. increased its stake in State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after buying an additional 131 shares during the period. Finally, Apollon Wealth Management LLC lifted its stake in shares of State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.
Insider Activity at State Street
In related news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 completion of the sale, the director now directly owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.
State Street Stock Performance
NYSE:STT opened at $81.39 on Friday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a market capitalization of $23.49 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $89.58 and a two-hundred day moving average price of $93.75.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the firm posted $1.69 EPS. As a group, research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Dividend Announcement
The business 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's payout ratio is currently 36.89%.
Analyst Ratings Changes
Several research firms recently issued reports on STT. Evercore ISI cut their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Barclays raised their price target on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Truist Financial reduced their target price on State Street from $104.00 to $89.00 and set a "hold" rating for the company in a report on Friday, April 4th. Finally, Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $103.54.
Check Out Our Latest Stock Analysis on State Street
State Street Profile
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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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