Bryn Mawr Capital Management LLC Lowers Position in State Street Co. (NYSE:STT)

Bryn Mawr Capital Management LLC decreased its stake in shares of State Street Co. (NYSE:STT) by 38.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,670 shares of the asset manager’s stock after selling 4,116 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in State Street were worth $655,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Coastline Trust Co purchased a new stake in State Street during the third quarter valued at about $44,000. Friedenthal Financial acquired a new stake in State Street during the fourth quarter worth about $49,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of State Street in the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.2 %

Shares of STT opened at $97.57 on Friday. 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 one year low of $70.20 and a one year high of $103.00. The stock has a 50-day moving average price of $98.57 and a 200 day moving average price of $93.35. The company has a market capitalization of $28.15 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released 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. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. Sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % 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.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on STT. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased 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. Truist Financial cut their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and an average price target of $100.73.

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.