Capital International Investors lifted its holdings in State Street Co. (NYSE:STT - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,527,115 shares of the asset manager's stock after acquiring an additional 12,537 shares during the period. Capital International Investors owned 1.89% of State Street worth $542,505,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Invesco Ltd. boosted its stake in State Street by 5.7% during the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock worth $737,162,000 after buying an additional 406,396 shares during the period. Geode Capital Management LLC boosted its stake in shares of State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock worth $704,238,000 after purchasing an additional 24,617 shares during the period. FMR LLC grew its holdings in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after purchasing an additional 870,849 shares during the last quarter. Amundi raised its position in State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after purchasing an additional 561,773 shares during the period. Finally, Franklin Resources Inc. lifted its stake in State Street by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager's stock worth $335,884,000 after purchasing an additional 55,598 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.
State Street Stock Down 0.8 %
State Street stock traded down $0.65 during trading hours on Monday, reaching $80.61. The stock had a trading volume of 3,349,594 shares, compared to its average volume of 2,186,814. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 1.11 and a beta of 1.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The business's 50 day moving average price is $88.88 and its 200-day moving average price is $93.77.
State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the firm earned $1.69 earnings per share. Sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.77%. State Street's payout ratio is 34.12%.
Analysts Set New Price Targets
STT has been the topic of several recent analyst reports. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Bank of America increased their target price on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Truist Financial lowered their target price on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research note on Monday. Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, State Street presently has an average rating of "Hold" and an average target price of $102.15.
Check Out Our Latest Analysis on State Street
Insiders Place Their Bets
In other news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction on 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 sale, the director now directly owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.
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.
Further Reading
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