State Street Co. (NYSE:STT) Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. decreased its position in shares of State Street Co. (NYSE:STT - Free Report) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,887 shares of the asset manager's stock after selling 15,866 shares during the quarter. State Street makes up 1.0% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 12th largest holding. University of Texas Texas AM Investment Management Co.'s holdings in State Street were worth $8,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in State Street in the fourth quarter worth approximately $272,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in State Street by 3.3% during 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 acquiring an additional 14,476 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock valued at $184,025,000 after acquiring an additional 10,404 shares during the period. Janney Montgomery Scott LLC raised its position in shares of State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after acquiring an additional 7,446 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of State Street during the 4th quarter worth $395,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods reduced their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Citigroup decreased their target price on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company cut their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Finally, Truist Financial upgraded State Street from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $112.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $104.23.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's 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 now directly owns 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

State Street Price Performance

Shares of STT stock traded down $0.08 during mid-day trading on Wednesday, hitting $97.36. 669,917 shares of the stock were exchanged, compared to its average volume of 2,132,663. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. 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 company has a market cap of $27.76 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm has a fifty day moving average of $88.50 and a 200 day moving average of $93.95.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The company 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 period last year, the company earned $1.69 earnings per share. Research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's payout ratio 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.