Junto Capital Management LP Purchases Shares of 448,835 State Street Co. (NYSE:STT)

Junto Capital Management LP acquired a new stake in shares of State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 448,835 shares of the asset manager's stock, valued at approximately $44,053,000. Junto Capital Management LP owned approximately 0.15% of State Street as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STT. Norges Bank bought a new position in State Street in the 4th quarter worth $161,021,000. Price T Rowe Associates Inc. MD grew its position in shares of State Street by 236.3% during the fourth 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 raised its stake in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after purchasing an additional 870,849 shares during the period. Azora Capital LP purchased a new position in State Street in the 4th quarter worth approximately $80,294,000. Finally, Northern Trust Corp boosted its stake in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after purchasing an additional 563,790 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Down 0.3 %

NYSE:STT opened at $93.81 on Friday. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a twelve month low of $70.20 and a twelve month 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. The stock has a fifty day simple moving average of $86.36 and a 200-day simple moving average of $93.63.

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, topping analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $1.69 EPS. Analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.24%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Analyst Ratings Changes

Several equities analysts recently weighed in on STT shares. Citigroup cut 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 note on Monday, March 24th. Truist Financial decreased their target price on State Street from $89.00 to $85.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Barclays cut their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Bank of America upped their price target on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $102.15.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 7,354 shares of the company's stock, valued at $667,154.88. This represents a 15.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,820 shares of company stock worth $1,567,972. 0.29% of the stock is currently owned by company insiders.

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.

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