Woodline Partners LP Acquires Shares of 17,605 State Street Co. (NYSE:STT)

Woodline Partners LP purchased a new position in State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,605 shares of the asset manager's stock, valued at approximately $1,728,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. iSAM Funds UK Ltd raised its holdings in State Street by 237.0% during the fourth quarter. iSAM Funds UK Ltd now owns 10,318 shares of the asset manager's stock worth $1,013,000 after buying an additional 7,256 shares during the last quarter. Vident Advisory LLC lifted its position in State Street by 7.3% in the 4th quarter. Vident Advisory LLC now owns 5,577 shares of the asset manager's stock valued at $547,000 after acquiring an additional 378 shares in the last quarter. Virtus Investment Advisers Inc. boosted its stake in State Street by 30.0% during the 4th quarter. Virtus Investment Advisers Inc. now owns 2,600 shares of the asset manager's stock valued at $255,000 after purchasing an additional 600 shares during the last quarter. Two Sigma Advisers LP increased its holdings in State Street by 984.4% during the 4th quarter. Two Sigma Advisers LP now owns 34,700 shares of the asset manager's stock worth $3,406,000 after purchasing an additional 31,500 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of State Street by 34.9% in the fourth quarter. Two Sigma Investments LP now owns 51,195 shares of the asset manager's stock worth $5,025,000 after purchasing an additional 13,251 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the firm'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 of the company's stock, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial raised State Street from a "hold" rating to a "buy" rating and lifted their target price for the company from $85.00 to $112.00 in a research report on Wednesday. Citigroup cut their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Evercore ISI lowered their target price on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Barclays cut their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen lowered shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, State Street currently has a consensus rating of "Hold" and an average target price of $104.23.

State Street Stock Performance

State Street stock traded up $0.18 during midday trading on Thursday, reaching $97.03. The stock had a trading volume of 693,895 shares, compared to its average volume of 2,134,118. The firm has a market capitalization of $27.67 billion, a PE ratio of 11.76, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. 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 firm's 50-day moving average price is $88.62 and its 200 day moving average price is $93.97.

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 (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates 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 firm posted $1.69 earnings per share. As a group, research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business 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 dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. State Street's dividend payout ratio is currently 34.12%.

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.