State Street Co. (NYSE:STT) Holdings Raised by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC raised its stake in shares of State Street Co. (NYSE:STT) by 65.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,131 shares of the asset manager’s stock after buying an additional 841 shares during the period. Smartleaf Asset Management LLC’s holdings in State Street were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Jacobi Capital Management LLC increased its position in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after purchasing an additional 121 shares during the period. Metis Global Partners LLC raised its holdings in shares of State Street by 4.4% in the 4th quarter. Metis Global Partners LLC now owns 10,000 shares of the asset manager’s stock worth $982,000 after purchasing an additional 420 shares in the last quarter. SVB Wealth LLC bought a new stake in State Street during the fourth quarter worth approximately $2,307,000. Tower Bridge Advisors bought a new position in shares of State Street in the fourth quarter valued at $233,000. Finally, Consilium Wealth Advisory LLC acquired a new position in shares of State Street in the 4th quarter worth $1,087,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of analyst reports. Truist Financial reduced 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. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. 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 report on Friday, January 3rd. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.73.

State Street Trading Up 1.0 %

Shares of STT stock opened at $92.63 on Thursday. The firm has a fifty day moving average of $98.28 and a 200-day moving average of $93.89. The stock has a market cap of $26.72 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. 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 announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS 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 firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the company earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that State Street Co. will post 9.68 earnings per share 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. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred 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 transaction, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.