Two Sigma Advisers LP Grows Stock Position in State Street Co. (NYSE:STT)

Two Sigma Advisers LP raised its stake in State Street Co. (NYSE:STT - Free Report) by 984.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,700 shares of the asset manager's stock after buying an additional 31,500 shares during the period. Two Sigma Advisers LP's holdings in State Street were worth $3,406,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its holdings in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in State Street in the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its holdings in State Street by 2,942.9% in the fourth 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 holdings in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares in the last quarter. Finally, Minot DeBlois Advisors LLC purchased a new position in State Street in the fourth quarter valued at about $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on STT. Wall Street Zen lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Bank of America increased their price target on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. Barclays lowered their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Truist Financial upgraded shares of State Street from a "hold" rating to a "buy" rating and increased their price target for the company from $85.00 to $112.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $104.23.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 owns 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

State Street Trading Down 0.8%

Shares of STT traded down $0.82 during mid-day trading on Friday, reaching $96.22. The company had a trading volume of 2,683,856 shares, compared to its average volume of 2,134,549. The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm has a fifty day simple moving average of $88.78 and a 200-day simple moving average of $93.98. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the company posted $1.69 EPS. On average, sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Tuesday, July 1st. State Street's payout ratio is currently 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.