Taika Capital LP Takes Position in State Street Co. (NYSE:STT)

Taika Capital LP acquired a new stake in State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,925 shares of the asset manager's stock, valued at approximately $385,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of State Street by 1.2% in the third quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager's stock valued at $30,633,000 after acquiring an additional 4,052 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in State Street in the third quarter valued at about $54,000. Assetmark Inc. lifted its position in State Street by 4.0% during the third quarter. Assetmark Inc. now owns 5,193 shares of the asset manager's stock worth $459,000 after purchasing an additional 201 shares during the period. River Global Investors LLP grew its stake in State Street by 0.9% during the third quarter. River Global Investors LLP now owns 69,566 shares of the asset manager's stock worth $6,156,000 after buying an additional 637 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in State Street by 2.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 9,912 shares of the asset manager's stock valued at $877,000 after buying an additional 241 shares during the period. Institutional investors own 87.44% of the company's stock.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were 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 owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STT. Barclays upped their price target 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. Truist Financial cut their target price on State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and raised their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday. Finally, Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, State Street has a consensus rating of "Hold" and a consensus target price of $101.20.

State Street Trading Down 3.3 %

NYSE:STT traded down $2.93 during mid-day trading on Monday, hitting $86.73. 2,527,561 shares of the company's stock were exchanged, compared to its average volume of 2,072,530. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week 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 $25.02 billion, a P/E ratio of 10.52, a PEG ratio of 1.11 and a beta of 1.44. The company has a 50 day simple moving average of $97.68 and a 200-day simple moving average of $94.14.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 earnings per share. As a group, research analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.51%. State Street's payout ratio is 36.89%.

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.