Chevy Chase Trust Holdings LLC Sells 2,544 Shares of State Street Corporation (NYSE:STT)

Chevy Chase Trust Holdings LLC decreased its position in State Street Corporation (NYSE:STT - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 152,111 shares of the asset manager's stock after selling 2,544 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of State Street worth $13,618,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of STT. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the fourth quarter worth $42,000. Coppell Advisory Solutions LLC lifted its position in 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 buying an additional 412 shares in the last quarter. MV Capital Management Inc. boosted its stake in shares of State Street by 98.4% during the 1st quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock worth $45,000 after buying an additional 251 shares during the last quarter. Loomis Sayles & Co. L P grew 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 in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of State Street in the fourth quarter valued at about $49,000. Institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on STT shares. Truist Financial raised State Street from a "hold" rating to a "buy" rating and increased their price target for the company from $85.00 to $112.00 in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods lowered their target price 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. 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 research note on Monday, March 24th. The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $102.54.

State Street Price Performance

Shares of NYSE STT traded up $1.22 during midday trading on Thursday, reaching $105.57. The company's stock had a trading volume of 2,207,895 shares, compared to its average volume of 2,092,144. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $30.11 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.20 and a beta of 1.44. The business's 50 day moving average price is $94.42 and its two-hundred day moving average price is $94.16. State Street Corporation has a fifty-two week low of $71.96 and a fifty-two week high of $105.85.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same period in the previous year, the firm earned $1.69 EPS. On average, analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 yield of 2.88%. State Street's dividend payout ratio is 34.12%.

Insiders Place Their Bets

In other news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction 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 owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

State Street Company 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.