Ossiam trimmed its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 92.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,205 shares of the asset manager's stock after selling 26,177 shares during the quarter. Ossiam's holdings in State Street were worth $216,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Norinchukin Bank The grew its position in shares of State Street by 8.2% in the 4th quarter. Norinchukin Bank The now owns 13,410 shares of the asset manager's stock valued at $1,316,000 after buying an additional 1,018 shares during the last quarter. Capital Research Global Investors increased its position in State Street by 2.3% during the 4th quarter. Capital Research Global Investors now owns 914,141 shares of the asset manager's stock valued at $89,723,000 after purchasing an additional 20,825 shares during the period. Curi RMB Capital LLC bought a new position in State Street during the 4th quarter worth approximately $207,000. First Trust Advisors LP boosted its stake in shares of State Street by 8.7% in the 4th quarter. First Trust Advisors LP now owns 656,374 shares of the asset manager's stock valued at $64,423,000 after purchasing an additional 52,380 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in State Street by 5.5% during the 4th quarter. Forum Financial Management LP now owns 4,483 shares of the asset manager's stock worth $440,000 after acquiring an additional 232 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
STT has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Truist Financial lowered their price objective on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $102.15.
View Our Latest Stock Report on State Street
Insider Buying and Selling at State Street
In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated 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 completion of the sale, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business'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 completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.
State Street Trading Up 3.9 %
Shares of State Street stock opened at $83.74 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.17 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The stock has a fifty day simple moving average of $88.58 and a 200 day simple moving average of $93.70. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. The business 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 firm earned $1.69 earnings per share. On average, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Announces Dividend
The company 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. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.63%. State Street's payout ratio is 34.12%.
State Street Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT - Free Report).
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