Crestline Management LP Has $6.50 Million Stock Holdings in State Street Co. (NYSE:STT)

Crestline Management LP raised its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 488.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,244 shares of the asset manager's stock after purchasing an additional 54,983 shares during the period. Crestline Management LP's holdings in State Street were worth $6,502,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Albion Financial Group UT bought a new stake in shares of State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd boosted its stake in State Street by 116.6% in 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. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street during the fourth quarter valued at approximately $42,000. Coppell Advisory Solutions LLC raised its position in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after purchasing an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P lifted 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 worth $47,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Price Performance

Shares of State Street stock traded down $0.25 during trading on Friday, hitting $93.81. The stock had a trading volume of 1,422,187 shares, compared to its average volume of 2,153,940. The business has a fifty day moving average of $86.36 and a two-hundred day moving average of $93.61. The firm has a market cap of $26.75 billion, a P/E ratio of 11.38, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during 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 prior year, the company earned $1.69 EPS. On average, sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.24%. State Street's dividend payout ratio (DPR) is 34.12%.

Analyst Ratings Changes

Several equities research analysts have weighed in on STT shares. 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. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Truist Financial decreased their target price 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 cut their price target on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Barclays decreased their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.15.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,820 shares of company stock valued at $1,567,972. Corporate insiders own 0.29% of the company's stock.

State Street 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.