Ensign Peak Advisors Inc raised its stake in shares of State Street Co. (NYSE:STT - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,538 shares of the asset manager's stock after buying an additional 22,719 shares during the period. Ensign Peak Advisors Inc's holdings in State Street were worth $12,322,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its position in shares of 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 purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter worth $42,000. Coppell Advisory Solutions LLC lifted its holdings in shares of State Street by 2,942.9% in the fourth 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 boosted its stake in State Street by 187.3% during the fourth 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 in the last quarter. 87.44% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,820 shares of company stock valued at $1,567,972. Company insiders own 0.29% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Evercore ISI dropped their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Truist Financial dropped their target price 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. Barclays reduced 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. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, Bank of America lifted their target price on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a report 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 assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $102.15.
Check Out Our Latest Stock Analysis on State Street
State Street Trading Up 2.3%
State Street stock opened at $95.99 on Tuesday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company's fifty day moving average price is $86.42 and its two-hundred day moving average price is $93.68. 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 $27.37 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.11 and a beta of 1.42.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio is currently 34.12%.
About State Street
(
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.
See Also
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT - Free Report).
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