State Street Co. (NYSE:STT) Stock Holdings Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,222 shares of the asset manager’s stock after selling 10,181 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in State Street were worth $6,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. Norges Bank bought a new position in State Street during the fourth quarter valued at approximately $184,482,000. Morgan Stanley raised its position in State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock valued at $467,876,000 after acquiring an additional 1,430,237 shares in the last quarter. Eaton Vance Management raised its position in State Street by 159.8% during the first quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock valued at $152,535,000 after acquiring an additional 1,077,013 shares in the last quarter. AustralianSuper Pty Ltd raised its position in State Street by 327.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock valued at $88,750,000 after acquiring an additional 1,015,022 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in State Street during the fourth quarter valued at approximately $45,687,000. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Barclays increased their price target on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Morgan Stanley increased their price target on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and increased their price target for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Finally, Evercore ISI increased their price target on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock valued at $1,390,597 over the last ninety days. 0.31% of the stock is owned by company insiders.

State Street Trading Up 0.3 %

Shares of State Street stock opened at $73.04 on Friday. The company’s fifty day simple moving average is $73.99 and its 200-day simple moving average is $72.37. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. State Street’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $2.07 earnings per share. As a group, sell-side analysts expect that State Street Co. will post 7.91 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.78%. State Street’s dividend payout ratio (DPR) is currently 51.69%.

About State Street

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.