Man Group plc grew its position in State Street Co. (NYSE:STT - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,154,515 shares of the asset manager's stock after purchasing an additional 265,176 shares during the quarter. State Street makes up about 0.6% of Man Group plc's portfolio, making the stock its 18th largest position. Man Group plc owned 0.73% of State Street worth $211,466,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of State Street by 5.7% during the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after acquiring an additional 406,396 shares during the period. Geode Capital Management LLC lifted its position in shares of State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock valued at $704,238,000 after acquiring an additional 24,617 shares during the period. FMR LLC lifted its position in shares of 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 acquiring an additional 870,849 shares during the period. Amundi lifted its position in shares of State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after acquiring an additional 561,773 shares during the period. Finally, Northern Trust Corp lifted its position in shares of State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after acquiring an additional 563,790 shares during the period. 87.44% of the stock is owned by institutional investors.
Analysts Set New Price Targets
STT has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. 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 report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $102.15.
Read Our Latest Stock Report on STT
State Street Stock Up 0.0%
Shares of NYSE STT 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 2,154,617. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $28.01 billion, a PE ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.42. The firm has a fifty day moving average of $87.22 and a two-hundred day moving average of $93.81.
State Street (NYSE:STT - Get Free Report) last posted its 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the business posted $1.69 EPS. As a group, equities research analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.
State Street Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.09%. State Street's payout ratio is 34.12%.
Insider Transactions at State Street
In related news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the 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 transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. The trade was a 6.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,820 shares of company stock worth $1,567,972 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.
State Street Company Profile
(
Free Report)
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.
Further Reading
Before you consider State Street, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and State Street wasn't on the list.
While State Street currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
