Woodstock Corp trimmed its stake in shares of State Street Co. (NYSE:STT) by 1.6% in the first quarter, Holdings Channel reports. The fund owned 97,045 shares of the asset manager’s stock after selling 1,613 shares during the period. Woodstock Corp’s holdings in State Street were worth $8,153,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Alpha DNA Investment Management LLC acquired a new stake in State Street during the 4th quarter worth approximately $25,000. DekaBank Deutsche Girozentrale lifted its position in State Street by 1.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 84,678 shares of the asset manager’s stock worth $6,094,000 after acquiring an additional 1,085 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in State Street by 13.5% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 705,593 shares of the asset manager’s stock worth $51,353,000 after acquiring an additional 84,023 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in State Street during the 4th quarter worth approximately $3,793,000. Finally, Dimensional Fund Advisors LP lifted its position in State Street by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,075,955 shares of the asset manager’s stock worth $151,083,000 after acquiring an additional 31,894 shares during the period. 91.77% of the stock is owned by institutional investors.
STT has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on State Street from $78.00 to $86.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 20th. Morgan Stanley boosted their target price on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. Piper Sandler upped their price target on shares of State Street from $69.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 11th. Credit Suisse Group upped their price target on shares of State Street from $78.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 20th. Finally, The Goldman Sachs Group cut shares of State Street from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $75.00 in a research note on Tuesday, January 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $81.27.
NYSE:STT traded down $0.38 on Thursday, reaching $84.36. The stock had a trading volume of 5,240 shares, compared to its average volume of 2,950,698. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.11 and a beta of 1.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.50 and a quick ratio of 0.50. The firm’s fifty day moving average is $80.49 and its two-hundred day moving average is $72.10. State Street Co. has a 12-month low of $51.21 and a 12-month high of $87.89.
State Street (NYSE:STT) last released its earnings results on Monday, January 18th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.13. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.82 billion. State Street had a net margin of 20.75% and a return on equity of 12.24%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 EPS. As a group, research analysts forecast that State Street Co. will post 6.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 12th. Stockholders of record on Thursday, April 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 2.47%. State Street’s payout ratio is currently 33.71%.
State Street Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
Featured Story: What Is An Exchange-Traded Fund (ETF)?
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).
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.