Quantbot Technologies LP reduced its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 55.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,525 shares of the asset manager's stock after selling 22,036 shares during the period. Quantbot Technologies LP's holdings in State Street were worth $1,720,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of State Street by 0.6% during the 3rd 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 during the last quarter. FMR LLC boosted its position in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after buying an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after buying an additional 1,354,560 shares during the period. Amundi increased its holdings in shares of State Street by 11.1% in the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after buying an additional 561,773 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock valued at $306,116,000 after acquiring an additional 408,792 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at State Street
In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was 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 of the company's stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
Analysts Set New Price Targets
STT has been the subject of a number of analyst reports. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Truist Financial dropped their price target on 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, JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.87.
Check Out Our Latest Analysis on STT
State Street Stock Down 0.9 %
Shares of STT stock traded down $0.83 during trading hours on Thursday, hitting $91.82. 1,417,373 shares of the company's stock traded hands, compared to its average volume of 2,051,252. 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 stock has a market cap of $26.49 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.11 and a beta of 1.44. The stock's fifty day simple moving average is $95.53 and its two-hundred day simple moving average is $94.36. 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 released 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the company posted $2.04 earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect that State Street Co. will post 9.68 EPS for the current year.
State Street Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is 36.89%.
About State Street
(
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.
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