State Street Co. (NYSE:STT) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its position in shares of State Street Co. (NYSE:STT - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 273,932 shares of the asset manager's stock after selling 7,500 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of State Street worth $26,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Norges Bank acquired a new position in shares of State Street in the 4th quarter valued at $161,021,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of State Street by 236.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock valued at $226,642,000 after buying an additional 1,622,408 shares in the last quarter. FMR LLC boosted its holdings in shares of State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after buying an additional 870,849 shares in the last quarter. Amundi boosted its holdings in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after buying an additional 561,773 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of State Street in the 4th quarter valued at $44,070,000. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Performance

STT traded up $0.44 during trading on Thursday, reaching $88.54. The company's stock had a trading volume of 305,128 shares, compared to its average volume of 2,145,873. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company's fifty day moving average price is $87.13 and its 200-day moving average price is $93.61. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the company earned $1.69 EPS. On average, equities analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is 34.12%.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STT. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial reduced their price target on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Evercore ISI reduced their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Finally, Morgan Stanley reduced 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 Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, State Street has an average rating of "Hold" and a consensus price target of $102.15.

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.