University of Texas Texas AM Investment Management Co. Sells 15,866 Shares of State Street Co. (NYSE:STT)

University of Texas Texas AM Investment Management Co. decreased its stake in State Street Co. (NYSE:STT - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,887 shares of the asset manager's stock after selling 15,866 shares during the period. State Street makes up 1.0% of University of Texas Texas AM Investment Management Co.'s portfolio, 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in State Street in the 4th quarter valued at approximately $3,361,000. GTS Securities LLC increased its position in shares of State Street by 123.6% during the fourth quarter. GTS Securities LLC now owns 2,750 shares of the asset manager's stock valued at $270,000 after purchasing an additional 14,381 shares during the period. Vise Technologies Inc. acquired a new position in shares of State Street in the fourth quarter valued at $307,000. Principal Street Partners LLC lifted its position in State Street by 0.4% in the fourth quarter. Principal Street Partners LLC now owns 70,165 shares of the asset manager's stock worth $6,887,000 after purchasing an additional 260 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in State Street by 10.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,664,062 shares of the asset manager's stock worth $261,478,000 after purchasing an additional 242,493 shares during the period. Institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Truist Financial lowered their target price on shares of State Street from $89.00 to $85.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wall Street Zen lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Barclays lowered their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $102.15.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

State Street Price Performance

STT stock traded up $1.25 during midday trading on Tuesday, reaching $97.35. 2,815,688 shares of the company's stock traded hands, compared to its average volume of 2,138,234. The company has a 50-day simple moving average of $88.36 and a two-hundred day simple moving average of $93.93. 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 1-year low of $70.20 and a 1-year high of $103.00. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during 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 posted $1.69 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is presently 34.12%.

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.