RWA Wealth Partners LLC Buys New Stake in State Street Co. (NYSE:STT)

RWA Wealth Partners LLC acquired a new position in shares of State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,350 shares of the asset manager's stock, valued at approximately $329,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of State Street during the 4th quarter worth $161,021,000. Hotchkis & Wiley Capital Management LLC boosted its holdings 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 worth $514,136,000 after buying an additional 1,354,560 shares in the last quarter. Amundi grew its position in State Street by 11.1% during 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. Wellington Management Group LLP increased its holdings in State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after buying an additional 462,201 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of State Street during the 4th quarter valued at approximately $44,070,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on STT. Evercore ISI lowered their price target on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Truist Financial lowered their target price on State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a report on Friday. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $101.07.

State Street Trading Down 8.0 %

STT traded down $6.60 during trading on Friday, hitting $76.23. The company's stock had a trading volume of 3,147,886 shares, compared to its average volume of 2,175,130. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock has a market cap of $21.99 billion, a PE ratio of 9.25, a PEG ratio of 1.11 and a beta of 1.42. The firm's 50 day moving average price is $94.09 and its 200-day moving average price is $94.58. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

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, beating 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 firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. The business's quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.99%. State Street's payout ratio is currently 36.89%.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business'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 of the company's stock, valued at $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. Corporate insiders own 0.31% of the company's stock.

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.