Marshall Wace LLP Has $31.34 Million Position in State Street Co. (NYSE:STT)

Marshall Wace LLP increased its stake in shares of State Street Co. (NYSE:STT - Free Report) by 143.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,307 shares of the asset manager's stock after purchasing an additional 188,286 shares during the quarter. Marshall Wace LLP owned approximately 0.11% of State Street worth $31,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% during the 4th 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 position in State Street in the 4th quarter worth about $42,000. Loomis Sayles & Co. L P raised its position in 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. Finally, Friedenthal Financial acquired a new stake in shares of State Street during the fourth quarter valued at about $49,000. Institutional investors own 87.44% of the company's stock.

State Street Stock Up 2.2 %

Shares of NYSE STT opened at $81.39 on Friday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $23.49 billion, a PE ratio of 9.88, a P/E/G ratio of 1.11 and a beta of 1.42. The company's fifty day simple moving average is $89.24 and its 200 day simple moving average is $93.71.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the business posted $1.69 EPS. As a group, sell-side analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's payout ratio is 34.12%.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a "buy" rating in a research note on Thursday. Bank of America lifted their price target on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. Truist Financial decreased their price objective on State Street from $104.00 to $89.00 and set a "hold" rating for the company in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, State Street has a consensus rating of "Hold" and an average target price of $103.54.

Insider Buying and Selling

In related news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 $10,002,300. This represents 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 company insiders.

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.

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