Natixis Advisors LLC Increases Stock Position in State Street Co. (NYSE:STT)

Natixis Advisors LLC grew its position in shares of State Street Co. (NYSE:STT) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,717 shares of the asset manager’s stock after purchasing an additional 2,765 shares during the period. Natixis Advisors LLC owned approximately 0.08% of State Street worth $23,724,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares in the last quarter. FMR LLC increased its position in State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the last quarter. Amundi raised its stake in State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Wellington Management Group LLP lifted its position in State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after purchasing an additional 462,201 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of State Street in the 4th quarter worth $44,070,000. 87.44% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value 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. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

State Street Stock Up 1.3 %

Shares of NYSE STT opened at $87.90 on Tuesday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market capitalization of $25.36 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.11 and a beta of 1.44. The stock has a 50 day moving average price of $96.48 and a 200 day moving average price of $94.18. 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 (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 EPS. Sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Analyst Ratings Changes

Several analysts have recently issued reports on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Morgan Stanley decreased their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Barclays increased their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial dropped 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 note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street has a consensus rating of “Hold” and an average price target of $101.20.

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.