Rhumbline Advisers Increases Stock Position in State Street Co. (NYSE:STT)

Rhumbline Advisers boosted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 563,846 shares of the asset manager's stock after acquiring an additional 20,212 shares during the period. Rhumbline Advisers owned 0.20% of State Street worth $50,481,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Y.D. More Investments Ltd grew its stake in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street in the 4th quarter valued at approximately $42,000. Coppell Advisory Solutions LLC increased its holdings in shares of 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 during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of State Street during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Insider Transactions at State Street

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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

State Street Stock Up 2.2%

STT stock traded up $2.15 during midday trading on Friday, hitting $98.63. The company's stock had a trading volume of 880,575 shares, compared to its average volume of 2,121,130. 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. The firm has a market capitalization of $28.13 billion, a P/E ratio of 11.97, a PEG ratio of 1.11 and a beta of 1.45. The firm has a 50-day simple moving average of $89.43 and a 200-day simple moving average of $94.04.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter last year, the company posted $1.69 EPS. As a group, equities analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 3.08%. State Street's dividend payout ratio (DPR) is currently 34.12%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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 report on Monday, March 24th. Barclays cut their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Cfra Research downgraded shares of State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. Keefe, Bruyette & Woods cut their price target 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. Finally, Truist Financial upgraded shares of State Street from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $112.00 in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, State Street has a consensus rating of "Hold" and a consensus price target of $102.54.

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.