AXA S.A. increased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,026 shares of the asset manager's stock after purchasing an additional 25,725 shares during the period. AXA S.A. owned approximately 0.11% of State Street worth $32,196,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in State Street in the fourth quarter valued at $272,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock valued at $44,725,000 after purchasing an additional 14,476 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock valued at $184,025,000 after purchasing an additional 10,404 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock valued at $7,289,000 after purchasing an additional 7,446 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of State Street during the 4th quarter worth about $395,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at State Street
In other State Street news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the 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 sale, the director now owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Truist Financial lowered their price target on shares of State Street from $89.00 to $85.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Bank of America boosted their price objective on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their price target on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Evercore ISI lowered their price objective 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $102.15.
Check Out Our Latest Stock Report on STT
State Street Stock Up 0.8 %
Shares of NYSE:STT traded up $0.71 during trading on Wednesday, reaching $91.46. 1,903,067 shares of the stock were exchanged, compared to its average volume of 2,152,441. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The stock has a fifty day moving average of $86.53 and a two-hundred day moving average of $93.58. 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 firm has a market cap of $26.39 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the previous year, the firm earned $1.69 EPS. Research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.32%. State Street's payout ratio is 34.12%.
About State Street
(
Free Report)
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.
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