Barclays PLC reduced its holdings in State Street Co. (NYSE:STT - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,276,818 shares of the asset manager's stock after selling 189,695 shares during the period. Barclays PLC owned approximately 0.44% of State Street worth $125,318,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Invesco Ltd. raised its holdings in State Street by 5.7% in the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after acquiring an additional 406,396 shares in the last quarter. Geode Capital Management LLC boosted its stake in State Street by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock worth $704,238,000 after buying an additional 24,617 shares in the last quarter. FMR LLC increased its holdings in State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after buying an additional 870,849 shares during the period. Amundi lifted its stake in State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after purchasing an additional 561,773 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager's stock worth $335,884,000 after buying an additional 55,598 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at State Street
In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business'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 sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.
State Street Trading Up 2.2 %
Shares of STT traded up $1.76 during trading hours on Friday, reaching $81.39. The stock had a trading volume of 5,521,939 shares, compared to its average volume of 2,185,439. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $23.49 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.11 and a beta of 1.42. The firm has a 50-day moving average of $89.24 and a 200 day moving average of $93.71.
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, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the firm earned $1.69 EPS. On average, sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio is 34.12%.
Analysts Set New Price Targets
STT has been the topic of several recent analyst reports. Bank of America boosted their price target on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Truist Financial reduced their price target on shares of State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Morgan Stanley dropped their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $103.54.
Read Our Latest Analysis on STT
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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