State Street Co. (NYSE:STT) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in State Street Co. (NYSE:STT - Free Report) by 10,172.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 328,933 shares of the asset manager's stock after acquiring an additional 325,731 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of State Street worth $29,449,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of State Street by 297.7% during the first quarter. Versant Capital Management Inc now owns 2,903 shares of the asset manager's stock worth $260,000 after purchasing an additional 2,173 shares in the last quarter. First Hawaiian Bank boosted its holdings in State Street by 1.9% in the 1st quarter. First Hawaiian Bank now owns 20,592 shares of the asset manager's stock worth $1,844,000 after buying an additional 391 shares during the last quarter. Neville Rodie & Shaw Inc. increased its stake in State Street by 5.3% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 19,110 shares of the asset manager's stock worth $1,711,000 after buying an additional 960 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in State Street by 13.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock worth $104,000 after buying an additional 134 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of State Street by 6.3% during the fourth quarter. Wellington Management Group LLP now owns 551,210 shares of the asset manager's stock valued at $54,101,000 after acquiring an additional 32,513 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Up 2.2%

Shares of State Street stock traded up $2.15 during mid-day trading on Friday, hitting $98.63. The stock had a trading volume of 880,574 shares, compared to its average volume of 2,119,012. The firm has a 50-day moving average of $89.23 and a two-hundred day moving average of $94.02. The firm has a market cap of $28.13 billion, a P/E ratio of 11.97, a price-to-earnings-growth 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 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.30 billion. During the same period in the prior year, the business posted $1.69 earnings per share. Sell-side analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.08%. State Street's dividend payout ratio (DPR) is currently 34.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial raised State Street from a "hold" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $112.00 in a research note on Wednesday, May 28th. Wall Street Zen cut shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods reduced their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Cfra Research downgraded shares of State Street from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 29th. Finally, Wells Fargo & Company lowered their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $102.54.

Insider Buying and Selling at State Street

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

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.