Russell Investments Group Ltd. Has $38.68 Million Stock Position in State Street Co. (NYSE:STT)

Russell Investments Group Ltd. boosted its holdings in State Street Co. (NYSE:STT - Free Report) by 28.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,021 shares of the asset manager's stock after acquiring an additional 88,250 shares during the period. Russell Investments Group Ltd. owned about 0.13% of State Street worth $38,675,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in STT. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the fourth quarter valued at approximately $42,000. Loomis Sayles & Co. L P raised its stake in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial purchased a new stake in State Street in the 4th quarter worth about $49,000. Institutional investors own 87.44% of the company's stock.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

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State Street Price Performance

Shares of NYSE STT traded up $0.41 during trading on Friday, reaching $79.41. The company had a trading volume of 2,338,352 shares, compared to its average volume of 2,180,226. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The business's 50 day moving average price is $91.04 and its 200-day moving average price is $94.03. The stock has a market cap of $22.92 billion, a PE ratio of 9.64, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The business 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 firm'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 earnings per share. Analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors 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 dividend yield of 3.83%. State Street's dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STT shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Bank of America increased their price target on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Truist Financial decreased their price objective on State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Finally, Evercore ISI decreased their target price on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $102.43.

State Street 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.