Hancock Whitney Corp Invests $698,000 in State Street Co. (NYSE:STT)

Hancock Whitney Corp acquired a new stake in shares of State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,115 shares of the asset manager's stock, valued at approximately $698,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Adero Partners LLC grew its position in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after buying an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after purchasing an additional 103 shares in the last quarter. Jacobi Capital Management LLC boosted its position in shares of State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after buying an additional 121 shares in the last quarter. Moors & Cabot Inc. grew its stake in State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after acquiring an additional 131 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after acquiring an additional 138 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Down 0.5 %

STT stock traded down $0.44 during trading hours on Wednesday, hitting $88.09. The company's stock had a trading volume of 1,895,447 shares, compared to its average volume of 2,151,130. The company has a market capitalization of $25.42 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a 50 day moving average price of $87.35 and a two-hundred day moving average price of $93.65. 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 (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping 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 net margin of 12.14% and a return on equity of 12.60%. During the same period last year, the business posted $1.69 EPS. On average, equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.45%. State Street's dividend payout ratio is 34.12%.

Insider Activity at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America upped their target price on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Wells Fargo & Company dropped their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Barclays dropped their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $102.15.

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.