Entropy Technologies LP Acquires Shares of 18,611 State Street Co. (NYSE:STT)

Entropy Technologies LP acquired a new stake in shares of State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,611 shares of the asset manager's stock, valued at approximately $1,827,000.

A number of other hedge funds have also recently modified their holdings of the business. Albion Financial Group UT purchased a new position in State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Coastline Trust Co bought a new stake in shares of State Street in the 3rd quarter worth approximately $44,000. Friedenthal Financial purchased a new stake in shares of State Street in the 4th quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP bought a new position in State Street during the 3rd quarter valued at approximately $54,000. Institutional investors own 87.44% of the company's stock.

State Street Stock Performance

Shares of NYSE:STT traded down $0.41 during trading on Tuesday, hitting $97.64. The company's stock had a trading volume of 491,015 shares, compared to its average volume of 1,987,482. 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 firm has a market cap of $28.62 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a 50-day moving average of $98.53 and a 200-day moving average of $91.91. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street's revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 EPS. On average, sell-side analysts expect that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.11%. State Street's payout ratio is currently 36.89%.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on STT shares. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Friday, January 3rd. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a research report on Saturday, January 25th. Finally, Truist Financial cut 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. 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. Based on data from MarketBeat.com, State Street currently has a consensus rating of "Hold" and an average target price 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.