Achmea Investment Management B.V. lowered its stake in State Street Co. (NYSE:STT - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,319 shares of the asset manager's stock after selling 16,507 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.08% of State Street worth $22,508,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in shares of State Street in the fourth quarter worth about $272,000. KBC Group NV lifted its holdings in shares of State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock worth $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after acquiring an additional 7,446 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of State Street in the fourth quarter worth about $395,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock worth $184,025,000 after acquiring an additional 10,404 shares during the last quarter. Institutional investors own 87.44% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial dropped their price objective 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. Morgan Stanley dropped their price objective on shares of State Street from $142.00 to $139.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $101.20.
Read Our Latest Stock Analysis on State Street
Insider Buying and Selling at State Street
In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm'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 directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale 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 shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $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. Company insiders own 0.31% of the company's stock.
State Street Stock Down 1.8 %
NYSE STT traded down $1.53 during mid-day trading on Thursday, hitting $84.23. The company's stock had a trading volume of 1,950,734 shares, compared to its average volume of 2,076,201. The company's 50 day simple moving average is $96.91 and its 200 day simple moving average is $94.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $24.30 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.11 and a beta of 1.44.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $2.04 EPS. State Street's revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.
State Street Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 36.89%.
State Street Profile
(
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.
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