Prana Capital Management LP Sells 53,697 Shares of State Street Co. (NYSE:STT)

Prana Capital Management LP decreased its stake in shares of State Street Co. (NYSE:STT - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 380,320 shares of the asset manager's stock after selling 53,697 shares during the period. State Street makes up 1.8% of Prana Capital Management LP's portfolio, making the stock its 16th biggest position. Prana Capital Management LP owned about 0.13% of State Street worth $37,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of STT. Albion Financial Group UT acquired a new position in State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in State Street during the 4th quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its stake in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after buying an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Trading Up 0.0%

Shares of State Street stock traded up $0.03 during trading on Friday, hitting $98.23. The stock had a trading volume of 1,682,941 shares, compared to its average volume of 2,155,981. The stock has a 50 day simple moving average of $87.22 and a 200 day simple moving average of $93.82. The company has a market capitalization of $28.01 billion, a PE ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.42. 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.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $1.69 earnings per share. On average, research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 dividend yield of 3.09%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio is currently 34.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on STT shares. Keefe, Bruyette & Woods lowered their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Morgan Stanley lowered their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial lowered their price objective 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. Barclays lowered their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $102.15.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on 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 sale, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,820 shares of company stock worth $1,567,972. 0.29% of the stock is 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.