KBC Group NV Boosts Stake in State Street Co. (NYSE:STT)

KBC Group NV lifted its position in State Street Co. (NYSE:STT - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,484 shares of the asset manager's stock after buying an additional 17,804 shares during the period. KBC Group NV's holdings in State Street were worth $9,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Peapack Gladstone Financial Corp increased its position in State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock valued at $467,000 after buying an additional 103 shares in the last quarter. Rockland Trust Co. grew its holdings in shares of State Street by 1.8% during the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock valued at $737,000 after buying an additional 150 shares during the last quarter. Empirical Finance LLC increased its position in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock valued at $997,000 after acquiring an additional 158 shares during the period. ST Germain D J Co. Inc. raised its stake in State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager's stock worth $282,000 after acquiring an additional 180 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in shares of State Street by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager's stock worth $512,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analyst Ratings Changes

STT has been the topic of several recent research reports. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday. Wells Fargo & Company increased their price target on State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. Truist Financial dropped their price objective on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Evercore ISI lifted their price objective on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $100.73.

State Street Price Performance

NYSE STT traded up $1.33 during mid-day trading on Thursday, hitting $102.18. The stock had a trading volume of 724,825 shares, compared to its average volume of 2,101,587. The firm's 50 day moving average is $98.31 and its 200 day moving average is $90.97. 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 stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 earnings per share. Equities research analysts forecast that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio is currently 36.89%.

Insider Activity at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % 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. Insiders own 0.31% of the company's stock.

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.