State Street Co. (NYSE:STT) Shares Sold by BDF Gestion

BDF Gestion cut its holdings in shares of State Street Co. (NYSE:STT) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,398 shares of the asset manager’s stock after selling 3,040 shares during the period. BDF Gestion’s holdings in State Street were worth $2,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. KBC Group NV lifted its position in shares of State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the period. Merit Financial Group LLC acquired a new position in State Street in the 4th quarter worth approximately $395,000. Banque Cantonale Vaudoise boosted its stake in State Street by 118.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after purchasing an additional 23,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after purchasing an additional 20,968 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of a number of recent analyst reports. 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 note on Thursday, January 2nd. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Truist Financial decreased their target price on shares of 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 shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $100.73.

State Street Trading Up 0.5 %

STT opened at $100.90 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The firm has a 50 day simple moving average of $98.20 and a 200 day simple moving average of $90.90. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $102.63.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $2.04 earnings per share. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that State Street Co. will post 9.43 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 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.