Hancock Whitney Corp Takes $698,000 Position in State Street Co. (NYSE:STT)

Hancock Whitney Corp purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,115 shares of the asset manager's stock, valued at approximately $698,000.

A number of other institutional investors have also recently bought and sold shares of STT. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd lifted its position in 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 acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the fourth quarter worth approximately $42,000. Coppell Advisory Solutions LLC boosted its holdings in shares of State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after acquiring an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Trading Down 0.3 %

Shares of STT stock opened at $87.33 on Friday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock's fifty day moving average price is $87.81 and its two-hundred day moving average price is $93.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $25.20 billion, a PE ratio of 10.60, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the business posted $1.69 earnings per share. Equities analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.48%. The ex-dividend date was Tuesday, April 1st. State Street's payout ratio is 34.12%.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated 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 in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Wells Fargo & Company lowered 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 report on Friday, March 28th. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Barclays lowered their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $102.15.

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.

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