Godsey & Gibb Inc. Raises Holdings in State Street Co. (NYSE:STT)

Godsey & Gibb Inc. lifted its position in shares of State Street Co. (NYSE:STT - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 212,072 shares of the asset manager's stock after buying an additional 8,592 shares during the quarter. Godsey & Gibb Inc. owned approximately 0.07% of State Street worth $18,987,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of State Street in the fourth quarter valued at about $161,021,000. Price T Rowe Associates Inc. MD lifted its holdings in State Street by 236.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock worth $226,642,000 after purchasing an additional 1,622,408 shares in the last quarter. FMR LLC boosted its stake in State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after purchasing an additional 870,849 shares during the period. Azora Capital LP purchased a new stake in State Street during the 4th quarter valued at approximately $80,294,000. Finally, Northern Trust Corp grew its holdings in State Street by 15.7% during the 4th 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. Hedge funds and other institutional investors own 87.44% of the company's stock.

State Street Stock Up 2.2%

Shares of STT traded up $2.15 during mid-day trading on Friday, hitting $98.63. 880,575 shares of the company traded hands, compared to its average volume of 2,121,130. The company has a market capitalization of $28.13 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average of $89.43 and a 200 day moving average of $94.04. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the prior year, the firm earned $1.69 earnings per share. Equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.08%. State Street's dividend payout ratio (DPR) is 34.12%.

Insider Activity at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the 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 transaction, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Truist Financial upgraded shares of State Street from a "hold" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $112.00 in a research note on Wednesday, May 28th. Citigroup cut their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wall Street Zen lowered State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.54.

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.