Coho Partners Ltd. Lowers Stock Holdings in State Street Co. (NYSE:STT)

Coho Partners Ltd. decreased its holdings in State Street Co. (NYSE:STT - Free Report) by 47.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 588,674 shares of the asset manager's stock after selling 523,209 shares during the period. State Street comprises approximately 2.7% of Coho Partners Ltd.'s investment portfolio, making the stock its 23rd biggest holding. Coho Partners Ltd. owned about 0.20% of State Street worth $57,778,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd raised its stake in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the last quarter. Coastline Trust Co acquired a new position in State Street in the third quarter valued at approximately $44,000. Friedenthal Financial acquired a new position in shares of State Street in the 4th quarter valued at $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of State Street in the third quarter worth about $54,000. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company's stock.

State Street Stock Up 1.2 %

STT stock traded up $1.24 during midday trading on Tuesday, hitting $100.40. The company's stock had a trading volume of 2,596,681 shares, compared to its average volume of 1,976,693. The firm has a market capitalization of $29.43 billion, a P/E ratio of 12.18, a PEG ratio of 1.12 and a beta of 1.43. The firm has a 50-day simple moving average of $98.58 and a 200-day simple moving average of $92.40. 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.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the company posted $2.04 earnings per share. The business's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.03%. State Street's dividend payout ratio (DPR) is currently 36.89%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in 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 report on Tuesday, January 21st. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their target price on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, January 2nd. Finally, Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $100.73.

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.