Treasurer of the State of North Carolina Sells 3,200 Shares of State Street Co. (NYSE:STT)

Treasurer of the State of North Carolina lessened its position in State Street Co. (NYSE:STT - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,034 shares of the asset manager's stock after selling 3,200 shares during the period. Treasurer of the State of North Carolina's holdings in State Street were worth $12,959,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of STT. Albion Financial Group UT acquired a new stake in shares of State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd raised its stake in shares of State Street by 116.6% in the 4th 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 bought a new stake in shares of State Street in the fourth quarter valued at about $42,000. Loomis Sayles & Co. L P boosted its position in shares of State Street by 187.3% during the fourth 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 bought a new position in shares of State Street during the fourth quarter worth about $49,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

State Street Stock Performance

NYSE:STT traded up $1.76 during mid-day trading on Friday, hitting $81.39. 5,521,939 shares of the stock were exchanged, compared to its average volume of 2,183,465. 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's 50-day simple moving average is $89.58 and its 200 day simple moving average is $93.75. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a market capitalization of $23.49 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.30 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. As a group, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio is currently 36.89%.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. Truist Financial reduced their target price 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Evercore ISI lowered their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Wells Fargo & Company lowered their price target on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Barclays boosted their target price on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, State Street presently has an average rating of "Hold" and a consensus target price of $103.54.

State Street Company 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.