Consilium Wealth Advisory LLC Takes Position in State Street Co. (NYSE:STT)

Consilium Wealth Advisory LLC acquired a new position in shares of State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,076 shares of the asset manager's stock, valued at approximately $1,087,000.

A number of other hedge funds have also added to or reduced their stakes in STT. International Assets Investment Management LLC lifted its position in State Street by 15,129.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,439 shares of the asset manager's stock worth $2,870,000 after buying an additional 32,226 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of State Street by 9.8% during the third quarter. Assenagon Asset Management S.A. now owns 10,661 shares of the asset manager's stock valued at $943,000 after buying an additional 954 shares during the period. Allworth Financial LP grew its holdings in shares of State Street by 8.3% during the 3rd quarter. Allworth Financial LP now owns 2,425 shares of the asset manager's stock worth $215,000 after acquiring an additional 185 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in State Street by 1.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 97,443 shares of the asset manager's stock worth $8,564,000 after purchasing an additional 991 shares in the last quarter. Finally, abrdn plc increased its stake in shares of State Street by 3.6% in the 3rd quarter. abrdn plc now owns 581,105 shares of the asset manager's stock worth $51,166,000 after acquiring an additional 20,146 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

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State Street Price Performance

Shares of State Street stock traded down $2.37 during trading on Monday, hitting $96.86. 2,273,694 shares of the company were exchanged, compared to its average volume of 2,054,752. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.11 and a beta of 1.43. The firm has a 50 day moving average price of $98.59 and a 200 day moving average price of $93.71. 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 released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. On average, equities analysts expect 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 3.14%. State Street's dividend payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, Truist Financial cut their price objective on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $100.73.

About State Street

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.