Robeco Institutional Asset Management B.V. Trims Stock Position in State Street Co. (NYSE:STT)

Robeco Institutional Asset Management B.V. decreased its holdings in State Street Co. (NYSE:STT - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 868,521 shares of the asset manager's stock after selling 62,389 shares during the period. Robeco Institutional Asset Management B.V. owned 0.30% of State Street worth $85,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp raised its position in State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after purchasing an additional 103 shares during the period. Rockland Trust Co. increased its position in shares of State Street by 1.8% during the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock worth $737,000 after acquiring an additional 150 shares during the period. Empirical Finance LLC increased its position in shares of State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock worth $997,000 after acquiring an additional 158 shares during the period. ST Germain D J Co. Inc. increased its position in shares of State Street by 6.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager's stock worth $282,000 after acquiring an additional 180 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of State Street by 3.3% during the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager's stock worth $512,000 after acquiring an additional 184 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 1.3 %

STT traded up $1.35 during trading on Thursday, hitting $102.20. The stock had a trading volume of 1,471,984 shares, compared to its average volume of 2,146,862. The company has a market capitalization of $29.96 billion, a PE ratio of 12.40, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. 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 stock has a 50 day simple moving average of $98.31 and a two-hundred day simple moving average of $90.97.

State Street (NYSE:STT - Get Free Report) last announced 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. 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 during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the firm earned $2.04 earnings per share. State Street's revenue was up 12.1% compared to the same quarter last year. On average, research analysts predict that State Street Co. will post 9.43 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders 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 annualized dividend and a dividend yield of 2.97%. State Street's payout ratio is currently 36.89%.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial reduced their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a report on Saturday, January 25th. Finally, Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, State Street presently has an average rating of "Hold" and a consensus target price of $100.73.

About State Street

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.