Ninety One UK Ltd Sells 171,456 Shares of State Street Co. (NYSE:STT)

Ninety One UK Ltd cut its position in State Street Co. (NYSE:STT - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,825,969 shares of the asset manager's stock after selling 171,456 shares during the period. Ninety One UK Ltd owned 0.59% of State Street worth $141,440,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in STT. Federated Hermes Inc. lifted its position in State Street by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager's stock valued at $20,941,000 after acquiring an additional 12,594 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in State Street by 1.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 28,733 shares of the asset manager's stock valued at $2,226,000 after acquiring an additional 541 shares in the last quarter. DGS Capital Management LLC lifted its position in State Street by 3.8% in the 4th quarter. DGS Capital Management LLC now owns 5,849 shares of the asset manager's stock valued at $453,000 after acquiring an additional 214 shares in the last quarter. Mackenzie Financial Corp lifted its position in State Street by 19.9% in the 4th quarter. Mackenzie Financial Corp now owns 181,856 shares of the asset manager's stock valued at $14,087,000 after acquiring an additional 30,124 shares in the last quarter. Finally, Strs Ohio lifted its position in State Street by 23.2% in the 4th quarter. Strs Ohio now owns 235,349 shares of the asset manager's stock valued at $18,230,000 after acquiring an additional 44,366 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

STT stock traded up $0.23 during midday trading on Thursday, reaching $73.04. 1,689,519 shares of the company's stock traded hands, compared to its average volume of 2,282,711. The company has a 50-day moving average price of $73.97 and a two-hundred day moving average price of $72.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a market capitalization of $22.05 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Co. will post 7.91 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. State Street's payout ratio is currently 51.69%.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 4,258 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company's stock, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company's stock, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of State Street from $89.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday. Bank of America reaffirmed an "underperform" rating and issued a $81.00 price target on shares of State Street in a report on Thursday, January 4th. Argus lifted their price target on shares of State Street from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Monday. UBS Group lifted their price target on shares of State Street from $80.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of State Street from $89.00 to $86.00 and set a "market perform" rating on the stock in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $84.04.

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.