Smith Group Asset Management LLC bought a new position in shares of State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,363 shares of the asset manager's stock, valued at approximately $526,000.
Several other large investors have also made changes to their positions in STT. KBC Group NV grew its holdings in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock valued at $6,607,000 after buying an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager's stock worth $12,124,000 after purchasing an additional 20,183 shares during the period. Merit Financial Group LLC purchased a new position in shares of State Street during the 4th quarter worth $395,000. Banque Cantonale Vaudoise grew its holdings in shares of State Street by 118.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager's stock worth $3,775,000 after purchasing an additional 23,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager's stock worth $6,069,000 after purchasing an additional 20,968 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms have recently weighed in on STT. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. StockNews.com upgraded State Street from a "hold" rating to a "buy" rating in a report on Saturday, January 25th. Evercore ISI increased their target price on State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Truist Financial decreased their target price on State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $100.73.
View Our Latest Research Report on STT
State Street Stock Up 1.3 %
Shares of NYSE STT traded up $1.35 during midday trading on Thursday, hitting $102.20. 177,601 shares of the company's stock were exchanged, compared to its average volume of 2,077,116. 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 Co. has a twelve month low of $70.20 and a twelve month high of $102.63. The company has a market cap of $29.96 billion, a PE ratio of 12.40, a P/E/G ratio of 1.11 and a beta of 1.43. The firm's fifty day simple moving average is $98.31 and its 200-day simple moving average is $90.97.
State Street (NYSE:STT - Get Free Report) last released 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. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate 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 posted $2.04 EPS. Research analysts predict that State Street Co. will post 9.43 EPS for the current fiscal year.
State Street Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 2.97%. State Street's dividend payout ratio is presently 36.89%.
State Street Profile
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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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