Cubist Systematic Strategies LLC Sells 44,748 Shares of State Street Co. (NYSE:STT)

Cubist Systematic Strategies LLC trimmed its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 27.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,263 shares of the asset manager's stock after selling 44,748 shares during the period. Cubist Systematic Strategies LLC's holdings in State Street were worth $11,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of STT. Albion Financial Group UT acquired a new stake in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its stake in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the 4th quarter valued at $42,000. Coppell Advisory Solutions LLC grew its holdings 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 valued at $42,000 after acquiring an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after acquiring an additional 311 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI dropped their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Bank of America increased their price target on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Finally, Truist Financial decreased their price objective on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $102.15.

Insider Buying and Selling at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the business's 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 sale, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,820 shares of company stock valued at $1,567,972. 0.29% of the stock is currently owned by corporate insiders.

State Street Stock Performance

Shares of STT stock traded down $0.25 during mid-day trading on Friday, reaching $93.81. The stock had a trading volume of 1,422,187 shares, compared to its average volume of 2,153,940. The firm has a market cap of $26.75 billion, a PE ratio of 11.38, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The firm's 50 day simple moving average is $86.36 and its 200 day simple moving average is $93.61.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results 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. 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 quarter in the previous year, the company earned $1.69 earnings per share. On average, analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently declared 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 3.24%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio is 34.12%.

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.