Choreo LLC Purchases 13,902 Shares of State Street Co. (NYSE:STT)

Choreo LLC boosted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,880 shares of the asset manager's stock after purchasing an additional 13,902 shares during the period. Choreo LLC's holdings in State Street were worth $3,231,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in State Street during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd lifted its position in shares of 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 acquiring an additional 197 shares in the last quarter. Coastline Trust Co purchased a new position in State Street during the 3rd quarter worth approximately $44,000. Friedenthal Financial acquired a new stake in State Street during the 4th quarter valued at $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of State Street in the third quarter valued at $54,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STT has been the topic of several recent analyst reports. Truist Financial dropped their price target on State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. StockNews.com upgraded shares of State Street from a "hold" rating to a "buy" rating in a research report on Saturday, January 25th. Wells Fargo & Company boosted their price target on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $100.73.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The shares were 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. This represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

State Street Stock Performance

Shares of NYSE STT traded down $0.15 during trading hours on Friday, hitting $99.44. 1,371,123 shares of the stock were exchanged, compared to its average volume of 2,132,460. The firm has a market capitalization of $29.15 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Co. has a one year low of $70.20 and a one year 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 company's 50 day moving average is $98.53 and its 200 day moving average is $91.76.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the company earned $2.04 earnings per share. The company's quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's payout ratio is presently 36.89%.

State Street Company 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.