State Street Co. (NYSE:STT) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in State Street Co. (NYSE:STT - Free Report) by 1,039.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,082 shares of the asset manager's stock after acquiring an additional 50,247 shares during the period. Edgestream Partners L.P.'s holdings in State Street were worth $5,406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd increased its stake in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street in the fourth quarter valued at approximately $42,000. Coastline Trust Co purchased a new position in State Street in the third quarter worth approximately $44,000. Finally, Friedenthal Financial acquired a new position in State Street during the 4th quarter worth approximately $49,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the 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 directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 value of $368,536.35. Following the completion of the sale, 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. 0.31% of the stock is currently owned by insiders.

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State Street Stock Performance

NYSE STT traded down $0.11 during trading on Friday, reaching $89.72. The company's stock had a trading volume of 2,216,264 shares, compared to its average volume of 2,070,705. The business's fifty day moving average price is $97.91 and its 200-day moving average price is $94.02. 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 firm has a market cap of $25.88 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last issued 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 return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same quarter in the previous year, the firm posted $2.04 EPS. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, 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 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 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio is presently 36.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STT shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Morgan Stanley cut their price target on State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a research note on Thursday. Barclays upped their price objective on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Finally, Truist Financial lowered their price target on 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 assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $101.20.

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.