Lecap Asset Management Ltd. Lowers Stock Position in State Street Co. (NYSE:STT)

Lecap Asset Management Ltd. lowered its stake in shares of State Street Co. (NYSE:STT - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,493 shares of the asset manager's stock after selling 2,937 shares during the period. Lecap Asset Management Ltd.'s holdings in State Street were worth $2,110,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of State Street by 2.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,073 shares of the asset manager's stock valued at $3,148,000 after acquiring an additional 656 shares during the period. Adero Partners LLC boosted its holdings in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC grew its position in shares of State Street by 7.6% during the 4th quarter. Bleakley Financial Group LLC now owns 7,596 shares of the asset manager's stock valued at $746,000 after purchasing an additional 539 shares in the last quarter. Choreo LLC increased its holdings in shares of State Street by 73.3% in the fourth quarter. Choreo LLC now owns 32,880 shares of the asset manager's stock worth $3,231,000 after purchasing an additional 13,902 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of State Street by 19.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,472 shares of the asset manager's stock worth $8,113,000 after buying an additional 13,657 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company's stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Morgan Stanley cut 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. Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Finally, Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, State Street has a consensus rating of "Hold" and a consensus target price of $100.73.

State Street Trading Down 0.2 %

STT traded down $0.15 on Friday, hitting $99.44. 1,371,123 shares of the company were exchanged, compared to its average volume of 2,132,460. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The firm has a fifty day simple moving average of $98.53 and a two-hundred day simple moving average of $91.76. The stock has a market capitalization of $29.15 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43.

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, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 earnings per share. Sell-side analysts expect that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The company 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. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. State Street's dividend payout ratio is currently 36.89%.

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.