Rathbones Group PLC Lowers Stock Holdings in State Street Co. (NYSE:STT)

Rathbones Group PLC decreased its position in State Street Co. (NYSE:STT - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,087 shares of the asset manager's stock after selling 4,481 shares during the period. Rathbones Group PLC's holdings in State Street were worth $5,603,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages recently commented on STT. Truist Financial cut their price target on shares of State Street from $104.00 to $89.00 and set a "hold" rating for the company in a report on Friday, April 4th. Evercore ISI cut their target price on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Morgan Stanley decreased 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. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, Wells Fargo & Company reduced their target price on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, State Street presently has an average rating of "Hold" and an average target price of $102.43.

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State Street Trading Up 0.5 %

Shares of STT stock traded up $0.41 on Friday, hitting $79.41. 2,338,352 shares of the stock traded hands, compared to its average volume of 2,180,226. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock has a market capitalization of $22.92 billion, a PE ratio of 9.64, a PEG ratio of 1.11 and a beta of 1.42. The firm's 50-day moving average price is $91.04 and its two-hundred day moving average price is $94.03. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street's revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 EPS. As a group, analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.83%. State Street's dividend payout ratio (DPR) is 36.89%.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

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.