Amundi boosted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,602,547 shares of the asset manager's stock after acquiring an additional 561,773 shares during the period. Amundi owned 1.91% of State Street worth $547,636,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its position in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after buying an additional 1,354,560 shares in the last quarter. FMR LLC boosted its stake in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Wellington Management Group LLP increased its stake in State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after purchasing an additional 462,201 shares in the last quarter. Raymond James Financial Inc. purchased a new position in State Street in the fourth quarter worth about $44,070,000. Finally, National Bank of Canada FI lifted its stake in shares of State Street by 99.4% in the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager's stock worth $78,574,000 after buying an additional 442,725 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at State Street
In related news, Director Gregory L. Summe sold 10,815 shares of the firm's 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 approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on STT shares. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. Truist Financial lowered their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, State Street has a consensus rating of "Hold" and a consensus price target of $101.20.
View Our Latest Research Report on State Street
State Street Stock Performance
State Street stock traded down $2.93 during midday trading on Monday, hitting $86.73. The stock had a trading volume of 2,502,345 shares, compared to its average volume of 2,072,529. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a market capitalization of $25.02 billion, a PE ratio of 10.52, a P/E/G ratio of 1.11 and a beta of 1.44. The firm's fifty day moving average is $97.91 and its two-hundred day moving average is $94.11. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.
State Street (NYSE:STT - Get Free Report) last announced 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. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company's revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $2.04 EPS. On average, research analysts forecast that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.51%. State Street's payout ratio is 36.89%.
State Street Company 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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