XTX Topco Ltd Sells 2,950 Shares of State Street Co. (NYSE:STT)

XTX Topco Ltd trimmed its stake in shares of State Street Co. (NYSE:STT - Free Report) by 52.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,645 shares of the asset manager's stock after selling 2,950 shares during the quarter. XTX Topco Ltd's holdings in State Street were worth $260,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT bought a new position in shares of State Street during the fourth quarter worth about $25,000. Y.D. More Investments Ltd lifted its holdings in State Street by 116.6% during the 4th 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 last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street in the 4th quarter worth approximately $42,000. Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after acquiring an additional 311 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of State Street during the 4th quarter valued at approximately $49,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated 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. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated 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 $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their target price on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Morgan Stanley cut their price target on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Truist Financial lowered their price objective on State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $102.15.

State Street Price Performance

STT traded up $1.04 during trading on Tuesday, hitting $88.61. The company's stock had a trading volume of 2,118,313 shares, compared to its average volume of 2,153,506. The firm's 50 day moving average price is $87.57 and its two-hundred day moving average price is $93.69. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $25.57 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the prior year, the business earned $1.69 earnings per share. Sell-side analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio is presently 34.12%.

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.