Vinva Investment Management Ltd Acquires 113,955 Shares of State Street Co. (NYSE:STT)

Vinva Investment Management Ltd grew its stake in State Street Co. (NYSE:STT - Free Report) by 98.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,990 shares of the asset manager's stock after acquiring an additional 113,955 shares during the period. State Street accounts for approximately 0.9% of Vinva Investment Management Ltd's holdings, making the stock its 14th largest position. Vinva Investment Management Ltd owned approximately 0.08% of State Street worth $22,603,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Generali Asset Management SPA SGR bought a new position in State Street during the fourth quarter worth about $99,000. Advisors Asset Management Inc. grew its holdings in State Street by 27.7% during the fourth quarter. Advisors Asset Management Inc. now owns 31,532 shares of the asset manager's stock worth $3,095,000 after purchasing an additional 6,836 shares during the period. Natixis Advisors LLC grew its holdings in State Street by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 241,717 shares of the asset manager's stock worth $23,724,000 after purchasing an additional 2,765 shares during the period. Frank Rimerman Advisors LLC grew its holdings in State Street by 9.9% during the fourth quarter. Frank Rimerman Advisors LLC now owns 2,676 shares of the asset manager's stock worth $263,000 after purchasing an additional 240 shares during the period. Finally, Catalyst Funds Management Pty Ltd grew its holdings in State Street by 27.8% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 4,600 shares of the asset manager's stock worth $451,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 87.44% of the company's stock.

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Analyst Ratings Changes

STT has been the subject of a number of research analyst reports. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Truist Financial cut their price objective on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $101.20.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business'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 sale, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

State Street Price Performance

Shares of NYSE STT traded up $0.11 during midday trading on Friday, reaching $90.63. The company's stock had a trading volume of 4,709,592 shares, compared to its average volume of 2,062,008. The business's 50 day moving average price is $95.93 and its two-hundred day moving average price is $94.22. The company has a market cap of $26.14 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.

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

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 dividend on an annualized basis and a yield of 3.35%. State Street's dividend payout ratio (DPR) 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.