Azimuth Capital Investment Management LLC Buys 5,430 Shares of State Street Co. (NYSE:STT)

Azimuth Capital Investment Management LLC lifted its stake in State Street Co. (NYSE:STT - Free Report) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,120 shares of the asset manager's stock after buying an additional 5,430 shares during the period. Azimuth Capital Investment Management LLC's holdings in State Street were worth $11,103,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Albion Financial Group UT acquired a new position in State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street during the fourth quarter valued at approximately $42,000. Loomis Sayles & Co. L P boosted its position in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after acquiring an additional 311 shares during the period. Finally, Friedenthal Financial bought a new position in State Street in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

State Street Stock Up 1.2 %

State Street stock traded up $0.97 during trading hours on Monday, hitting $80.38. The company had a trading volume of 498,724 shares, compared to its average volume of 2,139,330. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $23.20 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm's fifty day moving average is $91.04 and its 200-day moving average is $94.03.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share 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 company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company earned $2.04 earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.78%. State Street's dividend payout ratio is presently 36.89%.

Analyst Ratings Changes

STT has been the subject of a number of research analyst reports. 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. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Truist Financial dropped their price target on State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a report on Friday, April 4th. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Finally, Morgan Stanley decreased their target price on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, State Street presently has a consensus rating of "Hold" and an average target price of $102.43.

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.