State Street Co. (NYSE:STT) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in shares of State Street Co. (NYSE:STT - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 435,307 shares of the asset manager's stock after selling 49,102 shares during the quarter. Sei Investments Co. owned about 0.15% of State Street worth $42,724,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC lifted its stake in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. FMR LLC grew its holdings in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after acquiring an additional 833,679 shares during the period. Amundi raised 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 valued at $547,636,000 after acquiring an additional 561,773 shares in the last quarter. Wellington Management Group LLP boosted its position in State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock worth $45,889,000 after purchasing an additional 462,201 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position 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.

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Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business's 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 completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

State Street Trading Down 0.7 %

Shares of STT traded down $0.62 during midday trading on Thursday, hitting $92.03. 281,747 shares of the stock were exchanged, compared to its average volume of 2,048,915. 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 firm has a market cap of $26.55 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a fifty day simple moving average of $95.70 and a 200 day simple moving average of $94.38.

State Street (NYSE:STT - Get Free Report) last issued its quarterly 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 company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

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 issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.30%. State Street's dividend payout ratio (DPR) is presently 36.89%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, January 2nd. Barclays increased their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Truist Financial reduced their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Citigroup lowered 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. Finally, Deutsche Bank Aktiengesellschaft restated 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, State Street currently has a consensus rating of "Hold" and a consensus price target of $101.87.

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.