Cibc World Markets Corp Has $4.54 Million Stock Holdings in State Street Co. (NYSE:STT)

Cibc World Markets Corp trimmed its stake in shares of State Street Co. (NYSE:STT - Free Report) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,279 shares of the asset manager's stock after selling 11,611 shares during the quarter. Cibc World Markets Corp's holdings in State Street were worth $4,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in STT. Geode Capital Management LLC lifted its holdings in shares of State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager's stock valued at $632,111,000 after buying an additional 41,442 shares during the period. FMR LLC raised its position in State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in State Street by 30.4% in 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 acquiring an additional 1,354,560 shares during the last quarter. Amundi boosted its position in shares of State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock worth $306,116,000 after purchasing an additional 408,792 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts recently commented on STT shares. Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley decreased their target price on State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Truist Financial reduced their target price on State Street from $106.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price objective on State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $101.87.

Insider Activity at State Street

In related news, 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction 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 transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

State Street Stock Up 2.6 %

Shares of NYSE:STT traded up $2.32 during trading on Monday, reaching $92.87. 2,097,781 shares of the company traded hands, compared to its average volume of 2,062,177. The firm has a fifty day simple moving average of $95.93 and a 200 day simple moving average of $94.28. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The firm has a market cap of $26.79 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.27%. State Street's dividend payout ratio is currently 36.89%.

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.