Chevy Chase Trust Holdings LLC trimmed its position in State Street Co. (NYSE:STT - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,655 shares of the asset manager's stock after selling 6,286 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of State Street worth $15,179,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Albion Financial Group UT bought a new position in shares of State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd raised its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares during the period. Coastline Trust Co bought a new position in shares of State Street in the third quarter worth about $44,000. Friedenthal Financial bought a new position in shares of State Street in the fourth quarter worth about $49,000. Finally, Hager Investment Management Services LLC bought a new position in shares of State Street in the fourth quarter worth about $56,000. 87.44% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at State Street
In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,020 shares of company stock worth $2,674,661. 0.31% of the stock is currently owned by company insiders.
State Street Price Performance
NYSE:STT traded down $0.18 during trading hours on Thursday, reaching $99.63. The stock had a trading volume of 2,019,695 shares, compared to its average volume of 1,978,957. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a 50 day moving average price of $98.60 and a two-hundred day moving average price of $92.59. The stock has a market capitalization of $28.74 billion, a PE ratio of 12.09, a PEG ratio of 1.12 and a beta of 1.43.
State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. As a group, sell-side analysts anticipate that State Street Co. will post 9.65 earnings per share for the current fiscal year.
State Street Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.05%. State Street's dividend payout ratio (DPR) is 36.89%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Truist Financial decreased their target price on State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. 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 research note on Friday, January 3rd. Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $100.73.
Read Our Latest Analysis on State Street
State Street Company Profile
(
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.
Further Reading
Before you consider State Street, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and State Street wasn't on the list.
While State Street currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
