State Street Co. (NYSE:STT) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in State Street Co. (NYSE:STT - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,800 shares of the asset manager's stock after selling 31,760 shares during the quarter. Intact Investment Management Inc.'s holdings in State Street were worth $4,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in State Street during the fourth quarter worth $272,000. Charles Schwab Investment Management Inc. increased its stake in State Street by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock worth $184,025,000 after acquiring an additional 10,404 shares during the last quarter. KBC Group NV increased its stake in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock worth $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after acquiring an additional 7,446 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of State Street during the fourth quarter worth $395,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on STT shares. Truist Financial lowered their price target on State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley lowered their price target on State Street from $142.00 to $139.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, State Street has an average rating of "Hold" and an average price target of $101.20.

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Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business's 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 completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

State Street Stock Up 2.5 %

NYSE STT traded up $2.22 during trading on Wednesday, reaching $90.33. 2,444,658 shares of the company's stock were exchanged, compared to its average volume of 2,061,275. The stock has a market cap of $26.06 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. 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 50 day moving average price of $96.29 and a two-hundred day moving average price of $94.19. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS 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 business had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is currently 36.89%.

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.