Groupama Asset Managment Decreases Stock Holdings in State Street Co. (NYSE:STT)

Groupama Asset Managment decreased its position in shares of State Street Co. (NYSE:STT - Free Report) by 73.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,783 shares of the asset manager's stock after selling 7,891 shares during the quarter. Groupama Asset Managment's holdings in State Street were worth $274,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Trexquant Investment LP grew its position in shares of State Street by 2,673.3% during the fourth quarter. Trexquant Investment LP now owns 187,337 shares of the asset manager's stock worth $18,387,000 after purchasing an additional 180,582 shares in the last quarter. Headlands Technologies LLC purchased a new stake in State Street during the 4th quarter valued at approximately $1,125,000. Geode Capital Management LLC grew its holdings in State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock valued at $704,238,000 after buying an additional 24,617 shares in the last quarter. Diametric Capital LP purchased a new position in shares of State Street in the fourth quarter worth $393,000. Finally, Franklin Resources Inc. boosted its position in shares of State Street by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager's stock worth $335,884,000 after acquiring an additional 55,598 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Trading Up 9.5 %

NYSE STT traded up $7.14 during trading on Wednesday, hitting $82.47. The stock had a trading volume of 2,892,206 shares, compared to its average volume of 2,196,154. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a 50 day simple moving average of $91.80 and a 200 day simple moving average of $94.12. The stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

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State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $2.04 EPS. Sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's payout ratio is presently 36.89%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STT. Evercore ISI decreased their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Barclays raised their price target on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Truist Financial cut their target price on shares of State Street from $104.00 to $89.00 and set a "hold" rating for the company in a report on Friday, April 4th. Finally, Wells Fargo & Company decreased their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, State Street presently has a consensus rating of "Hold" and a consensus target price of $101.07.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were 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. This trade represents a 9.76 % 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 insiders.

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.