Price T Rowe Associates Inc. MD Increases Holdings in State Street Co. (NYSE:STT)

Price T Rowe Associates Inc. MD raised its holdings in State Street Co. (NYSE:STT - Free Report) by 236.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,309,130 shares of the asset manager's stock after purchasing an additional 1,622,408 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.79% of State Street worth $226,642,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of State Street by 5.7% in the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after purchasing an additional 406,396 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of State Street by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock valued at $704,238,000 after purchasing an additional 24,617 shares in the last quarter. FMR LLC boosted its holdings in shares of State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Amundi boosted its holdings in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager's stock valued at $335,884,000 after purchasing an additional 55,598 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were 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 approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STT shares. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Truist Financial cut their price objective on State Street from $89.00 to $85.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Citigroup cut their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. One investment 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $102.15.

State Street Stock Up 0.2 %

State Street stock traded up $0.20 during midday trading on Monday, reaching $87.58. The stock had a trading volume of 2,338,476 shares, compared to its average volume of 2,153,646. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a market capitalization of $25.27 billion, a P/E ratio of 10.63, a PEG ratio of 1.11 and a beta of 1.42. The company has a fifty day moving average price of $87.57 and a two-hundred day moving average price of $93.69. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

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 analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the company posted $1.69 EPS. As a group, equities analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.47%. State Street's dividend payout ratio (DPR) is currently 34.12%.

About State Street

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.