Brevan Howard Capital Management LP lessened its stake in shares of State Street Co. (NYSE:STT - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 52,660 shares of the asset manager's stock after selling 7,313 shares during the quarter. Brevan Howard Capital Management LP's holdings in State Street were worth $5,169,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC boosted its stake in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after purchasing an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of 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 purchasing an additional 311 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.
Insider Buying and Selling
In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now owns 7,354 shares of the company's stock, valued at $667,154.88. This trade represents a 15.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated 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 sale, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,820 shares of company stock worth $1,567,972 in the last ninety days. 0.29% of the stock is owned by insiders.
State Street Price Performance
Shares of STT traded down $0.25 during trading hours on Friday, reaching $93.81. 1,422,187 shares of the company's stock traded hands, compared to its average volume of 2,153,940. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a market cap of $26.75 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. 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 firm's 50 day simple moving average is $86.32 and its 200-day simple moving average is $93.59.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter last year, the company posted $1.69 EPS. Equities analysts expect that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on STT shares. Evercore ISI lowered their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. Truist Financial decreased their target price on State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One 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 MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $102.15.
Read Our Latest Analysis on STT
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.
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