Tower Research Capital LLC TRC Reduces Stock Holdings in State Street Co. (NYSE:STT)

Tower Research Capital LLC TRC lessened its position in State Street Co. (NYSE:STT - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,452 shares of the asset manager's stock after selling 6,711 shares during the period. Tower Research Capital LLC TRC's holdings in State Street were worth $2,302,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of STT. Albion Financial Group UT acquired a new position in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street during the fourth quarter valued at $42,000. Loomis Sayles & Co. L P lifted its holdings in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of State Street in the fourth quarter worth $49,000. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Keefe, Bruyette & Woods decreased their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. Truist Financial lowered their target price on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.15.

State Street Stock Up 0.1 %

Shares of NYSE:STT traded up $0.07 during midday trading on Monday, hitting $87.45. 582,098 shares of the company's stock were exchanged, compared to its average volume of 2,146,813. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a market cap of $25.24 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. 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 has a 50 day moving average price of $87.81 and a 200-day moving average price of $93.70.

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, topping the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the prior year, the business posted $1.69 earnings per share. On average, sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company 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. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.48%. State Street's payout ratio is 34.12%.

Insider Activity

In other news, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 100,023 shares of the company's stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, 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. 0.29% of the stock is currently owned by corporate insiders.

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.