Czech National Bank Boosts Position in State Street Co. (NYSE:STT)

Czech National Bank boosted its stake in shares of State Street Co. (NYSE:STT - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,256 shares of the asset manager's stock after acquiring an additional 2,695 shares during the period. Czech National Bank's holdings in State Street were worth $5,932,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of STT. Y.D. More Investments Ltd grew its position in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in State Street during the fourth quarter valued at approximately $42,000. Coppell Advisory Solutions LLC grew its holdings 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 valued at $42,000 after buying an additional 412 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in 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 acquiring an additional 311 shares during the last quarter. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of State Street during the 4th quarter worth approximately $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Truist Financial raised shares of State Street from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $112.00 in a research note on Wednesday, May 28th. Evercore ISI reduced their target price on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Citigroup lowered 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. Finally, Wells Fargo & Company dropped their price target on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $102.54.

State Street Trading Up 0.4%

STT traded up $0.42 during trading hours on Thursday, reaching $96.42. 960,575 shares of the company's stock traded hands, compared to its average volume of 2,121,437. The firm has a 50-day moving average price of $89.10 and a 200 day moving average price of $94.02. The firm has a market capitalization of $27.50 billion, a PE ratio of 11.70, a PEG ratio of 1.11 and a beta of 1.45. 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 52-week low of $70.20 and a 52-week high of $103.00.

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, beating analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the company posted $1.69 EPS. As a group, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

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 paid a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.15%. State Street's dividend payout ratio (DPR) is presently 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.