111 Capital Acquires New Holdings in State Street Co. (NYSE:STT)

111 Capital acquired a new stake in State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,982 shares of the asset manager's stock, valued at approximately $587,000.

Other hedge funds have also made changes to their positions in the company. Adero Partners LLC boosted its stake in State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after buying an additional 121 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after buying an additional 131 shares during the period. Apollon Wealth Management LLC grew its holdings in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after acquiring an additional 138 shares during the period. Finally, Huntington National Bank raised its position in State Street by 1.3% in the fourth quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock worth $1,146,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Down 0.1%

STT stock traded down $0.13 during mid-day trading on Monday, hitting $96.15. The stock had a trading volume of 1,242,507 shares, compared to its average volume of 2,130,981. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a fifty day moving average of $88.85 and a 200 day moving average of $93.98. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $1.69 EPS. On average, equities analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.16%. The ex-dividend date is Tuesday, July 1st. State Street's payout ratio is currently 34.12%.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on STT shares. Citigroup cut their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Wells Fargo & Company reduced their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Truist Financial raised State Street from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $112.00 in a report on Wednesday, May 28th. Keefe, Bruyette & Woods reduced their price objective on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Evercore ISI cut 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $104.23.

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.