Susquehanna Fundamental Investments LLC Buys New Stake in State Street Co. (NYSE:STT)

Susquehanna Fundamental Investments LLC bought a new position in State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 283,365 shares of the asset manager's stock, valued at approximately $27,812,000. Susquehanna Fundamental Investments LLC owned approximately 0.10% of State Street as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Albion Financial Group UT acquired a new stake in State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd increased its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the 4th quarter worth about $42,000. Coppell Advisory Solutions LLC raised its stake in shares of 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 last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of State Street by 187.3% in 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 Stock Down 0.5 %

Shares of STT stock traded down $0.44 during trading on Wednesday, reaching $88.09. The company's stock had a trading volume of 1,895,097 shares, compared to its average volume of 2,006,298. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a 1-year low of $85.81 and a 1-year high of $88.67. 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 stock's 50-day moving average price is $87.35 and its 200 day moving average price is $93.65.

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, topping analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the prior year, the company earned $1.69 earnings per share. On average, research analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Tuesday, April 1st. State Street's payout ratio is presently 34.12%.

Insider Buying and Selling

In other State Street news, 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 directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction 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 in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

STT has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays reduced their target price on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Truist Financial reduced their price objective on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, State Street currently has an average rating of "Hold" and a consensus price target of $102.15.

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.