Lbp Am Sa Sells 3,069 Shares of State Street Corporation (NYSE:STT)

LBP AM SA trimmed its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,373 shares of the asset manager's stock after selling 3,069 shares during the period. LBP AM SA's holdings in State Street were worth $6,300,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in STT. Allspring Global Investments Holdings LLC lifted its position in shares of State Street by 127.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,710 shares of the asset manager's stock valued at $2,728,000 after acquiring an additional 17,201 shares in the last quarter. Pacific Heights Asset Management LLC increased its stake in shares of State Street by 9.1% during the 1st quarter. Pacific Heights Asset Management LLC now owns 60,000 shares of the asset manager's stock worth $5,372,000 after purchasing an additional 5,000 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock valued at $44,725,000 after buying an additional 14,476 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of State Street by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 339,406 shares of the asset manager's stock worth $30,387,000 after acquiring an additional 5,242 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new position in shares of State Street during the 1st quarter worth about $42,504,000. 87.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on STT. Morgan Stanley lifted their price target on shares of State Street from $110.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Bank of America lifted their price target on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Truist Financial lifted their price target on shares of State Street from $112.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Citigroup lifted their price target on shares of State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Cfra Research cut shares of State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $109.92.

Insider Buying and Selling

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

State Street Stock Down 0.7%

STT traded down $0.80 during trading on Friday, reaching $109.41. The company had a trading volume of 1,521,559 shares, compared to its average volume of 2,106,351. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $111.99. The business's fifty day moving average price is $99.48 and its 200 day moving average price is $94.90. The company has a market cap of $31.20 billion, a P/E ratio of 12.27, a PEG ratio of 1.26 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.85% and a return on equity of 12.79%. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Equities analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently declared 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. This represents a $3.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is currently 34.12%.

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.