Capital Research Global Investors Raises Stock Position in State Street Co. (NYSE:STT)

Capital Research Global Investors lifted its stake in shares of State Street Co. (NYSE:STT - Free Report) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 914,141 shares of the asset manager's stock after buying an additional 20,825 shares during the period. Capital Research Global Investors owned approximately 0.31% of State Street worth $89,723,000 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. Albion Financial Group UT purchased a new stake in State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd increased its holdings in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the 4th quarter valued at approximately $42,000. Loomis Sayles & Co. L P boosted its holdings in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after acquiring an additional 311 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of State Street in the fourth quarter worth $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's 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 sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade 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.

State Street Price Performance

Shares of State Street stock traded down $0.24 on Friday, hitting $87.33. 2,100,424 shares of the company were exchanged, compared to its average volume of 2,155,293. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $87.81 and a 200 day moving average price of $93.64. The stock has a market capitalization of $25.20 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial reduced their price objective on State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lowered their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Barclays decreased their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Evercore ISI reduced their target price on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, State Street presently has a consensus rating of "Hold" and a consensus target price of $102.15.

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.