State Street Co. (NYSE:STT) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its stake in State Street Co. (NYSE:STT - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,563 shares of the asset manager's stock after selling 24,562 shares during the period. Tredje AP fonden's holdings in State Street were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in STT. Albion Financial Group UT purchased a new stake in State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd raised its holdings 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 in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter valued at about $42,000. Coastline Trust Co bought a new stake in shares of State Street in the 3rd quarter valued at about $44,000. Finally, Friedenthal Financial bought a new stake in shares of State Street in the 4th quarter valued at about $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Performance

Shares of STT stock traded up $0.23 during trading hours on Tuesday, hitting $88.04. The company's stock had a trading volume of 1,694,759 shares, compared to its average volume of 2,061,820. The company has a 50 day moving average of $96.48 and a 200 day moving average of $94.18. The stock has a market cap of $25.40 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

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State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. On average, sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analyst Weigh In

Several research firms have recently commented on STT. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Truist Financial reduced their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, State Street currently has a consensus rating of "Hold" and a consensus price target of $101.20.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction 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 approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction 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 transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.