State Street Co. (NYSE:STT) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in shares of State Street Co. (NYSE:STT) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 435,307 shares of the asset manager’s stock after selling 49,102 shares during the period. Sei Investments Co.’s holdings in State Street were worth $42,724,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC raised its stake in State Street by 30.4% in 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 during the last quarter. FMR LLC increased its holdings in shares of State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares during the period. Amundi raised its stake in shares of State Street by 11.1% in the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of State Street during the fourth quarter worth about $44,070,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred 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 sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STT shares. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Morgan Stanley reduced their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Citigroup lowered their price target on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Truist Financial cut their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company upped their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.87.

State Street Stock Up 2.6 %

State Street stock opened at $92.87 on Tuesday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a market capitalization of $26.79 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. 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 business has a 50 day simple moving average of $95.90 and a 200-day simple moving average of $94.33.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during 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%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 EPS. On average, analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.27%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.