Pacer Advisors Inc. Purchases 17,464 Shares of State Street Co. (NYSE:STT)

Pacer Advisors Inc. raised its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 78.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,613 shares of the asset manager's stock after acquiring an additional 17,464 shares during the quarter. Pacer Advisors Inc.'s holdings in State Street were worth $3,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. Geode Capital Management LLC grew its position in State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager's stock valued at $632,111,000 after purchasing an additional 41,442 shares in the last quarter. FMR LLC boosted its stake in shares of State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after buying an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after acquiring an additional 1,354,560 shares in the last quarter. Metropolis Capital Ltd increased its position in shares of State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager's stock valued at $379,209,000 after acquiring an additional 161,466 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock worth $306,116,000 after acquiring an additional 408,792 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on 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 in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company's stock.

State Street Stock Performance

Shares of State Street stock traded down $0.62 on Friday, hitting $101.61. The stock had a trading volume of 1,664,622 shares, compared to its average volume of 2,122,751. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The business's 50 day moving average is $98.42 and its two-hundred day moving average is $91.05.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.04 EPS. Analysts forecast that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, January 2nd. State Street's dividend payout ratio (DPR) is 36.89%.

Analyst Ratings Changes

A number of research firms have weighed in on STT. StockNews.com upgraded State Street from a "hold" rating to a "buy" rating in a research note on Saturday, January 25th. Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. Finally, Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $100.73.

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.