State Street Co. (NYSE:STT) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC cut its position in State Street Co. (NYSE:STT) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,683 shares of the asset manager’s stock after selling 168 shares during the quarter. Harbor Investment Advisory LLC’s holdings in State Street were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its stake in State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the period. Pacer Advisors Inc. grew its holdings in shares of State Street by 4.6% in the second quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock valued at $1,549,000 after purchasing an additional 922 shares in the last quarter. Sei Investments Co. lifted its holdings in State Street by 14.5% during the 2nd quarter. Sei Investments Co. now owns 500,238 shares of the asset manager’s stock worth $37,017,000 after buying an additional 63,438 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after buying an additional 41,180 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of State Street by 3.4% in the second quarter. ProShare Advisors LLC now owns 79,042 shares of the asset manager’s stock worth $5,849,000 after acquiring an additional 2,574 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on STT shares. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday. The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $100.20.

State Street Stock Up 1.3 %

Shares of NYSE STT opened at $98.93 on Wednesday. The business has a 50-day moving average price of $97.74 and a 200 day moving average price of $89.90. The stock has a market cap of $29.00 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 52-week low of $70.20 and a 52-week high of $101.91.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3,267,560 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 earnings per share. Equities research analysts forecast that State Street Co. will post 9.55 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.07%. State Street’s dividend payout ratio (DPR) is 36.89%.

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.