Rhumbline Advisers Has $53.36 Million Stock Holdings in State Street Co. (NYSE:STT)

Rhumbline Advisers cut its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 543,634 shares of the asset manager's stock after selling 21,639 shares during the quarter. Rhumbline Advisers owned 0.19% of State Street worth $53,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. V Square Quantitative Management LLC raised its holdings in shares of State Street by 6.9% during the fourth quarter. V Square Quantitative Management LLC now owns 9,761 shares of the asset manager's stock worth $958,000 after acquiring an additional 632 shares in the last quarter. Vontobel Holding Ltd. increased its position in State Street by 4.5% in the 4th quarter. Vontobel Holding Ltd. now owns 27,216 shares of the asset manager's stock worth $2,671,000 after purchasing an additional 1,183 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of State Street by 3.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 141,862 shares of the asset manager's stock worth $13,983,000 after purchasing an additional 4,822 shares in the last quarter. Life Planning Partners Inc acquired a new stake in shares of State Street during the 4th quarter valued at about $9,884,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of State Street in the 4th quarter valued at approximately $37,026,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Insider Activity at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm'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 completion of the sale, the director now owns 100,023 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 27,020 shares of company stock worth $2,674,661. Company insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on STT. Wells Fargo & Company raised 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. Truist Financial cut their price target 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. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, State Street currently has an average rating of "Hold" and a consensus price target of $100.73.

State Street Stock Performance

NYSE STT traded down $0.18 during trading on Thursday, hitting $99.63. The company's stock had a trading volume of 2,019,695 shares, compared to its average volume of 1,978,957. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The firm has a market cap of $28.74 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The firm has a 50 day moving average price of $98.60 and a 200 day moving average price of $92.59. 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 (NYSE:STT - Get Free Report) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm posted $2.04 earnings per share. State Street's revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 9.65 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.05%. State Street's payout ratio is presently 36.89%.

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.