Great Lakes Advisors LLC Has $46.97 Million Stock Holdings in State Street Co. (NYSE:STT)

Great Lakes Advisors LLC lowered its stake in State Street Co. (NYSE:STT - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 478,531 shares of the asset manager's stock after selling 12,170 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.16% of State Street worth $46,968,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STT. Albion Financial Group UT bought a new position in shares of State Street in the fourth quarter valued at $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 worth $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the fourth quarter worth $42,000. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter worth $44,000. Finally, Friedenthal Financial acquired a new stake in shares of State Street during the fourth quarter worth $49,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STT. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays boosted their price target on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Morgan Stanley dropped their price target on State Street from $142.00 to $139.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial dropped their price target on State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $101.20.

Remove Ads

State Street Price Performance

Shares of State Street stock opened at $85.79 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $24.75 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The business's 50-day moving average price is $97.43 and its 200-day moving average price is $94.15. 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 issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share 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 firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company earned $2.04 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.54%. State Street's dividend payout ratio is presently 36.89%.

Insider Activity at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business'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 sale, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was 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 $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.