Whipplewood Advisors LLC Purchases 21,380 Shares of State Street Co. (NYSE:STT)

Whipplewood Advisors LLC grew its holdings in State Street Co. (NYSE:STT - Free Report) by 3,431.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,003 shares of the asset manager's stock after buying an additional 21,380 shares during the quarter. Whipplewood Advisors LLC's holdings in State Street were worth $1,970,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of State Street by 5.7% in the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after purchasing an additional 406,396 shares in the last quarter. Geode Capital Management LLC raised its position in State Street by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock valued at $704,238,000 after purchasing an additional 24,617 shares during the last quarter. FMR LLC raised its position in State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after purchasing an additional 870,849 shares during the last quarter. Amundi grew its holdings in shares of State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of State Street by 15.7% in the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after buying an additional 563,790 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Activity at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on STT shares. Citigroup reduced their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Cfra Research lowered shares of State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. Wall Street Zen lowered shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Truist Financial upgraded shares of State Street from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $112.00 in a research report on Wednesday, May 28th. Finally, Morgan Stanley increased their price objective on State Street from $107.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday. One 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $102.54.

State Street Trading Up 0.4%

Shares of State Street stock traded up $0.42 during trading hours on Thursday, hitting $96.42. The company's stock had a trading volume of 960,581 shares, compared to its average volume of 2,121,439. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $27.50 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.45. The stock has a 50 day moving average of $89.10 and a 200 day moving average of $94.02.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The business 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 12.60% and a net margin of 12.14%. During the same period in the prior year, the business earned $1.69 EPS. Analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.15%. State Street's dividend payout ratio (DPR) is 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.