City State Bank Sells 150 Shares of State Street Co. (NYSE:STT)

City State Bank reduced its holdings in State Street Co. (NYSE:STT) by 30.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 350 shares of the asset manager’s stock after selling 150 shares during the quarter. City State Bank’s holdings in State Street were worth $34,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Czech National Bank grew its position in shares of State Street by 4.5% in the 4th quarter. Czech National Bank now owns 63,561 shares of the asset manager’s stock worth $6,239,000 after buying an additional 2,729 shares during the last quarter. Graypoint LLC bought a new stake in shares of State Street during the fourth quarter valued at approximately $203,000. ST Germain D J Co. Inc. boosted its position in shares of State Street by 6.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after purchasing an additional 180 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of State Street by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,321 shares of the asset manager’s stock valued at $2,878,000 after purchasing an additional 535 shares in the last quarter. Finally, InvesTrust bought a new stake in shares of State Street during the fourth quarter valued at approximately $742,000. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Up 0.6 %

STT stock opened at $94.46 on Tuesday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The business has a fifty day moving average price of $97.46 and a 200-day moving average price of $89.05. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $27.69 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. Equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 48.03%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STT. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial initiated coverage on State Street in a report on Tuesday, January 7th. They issued a “hold” rating and a $106.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average target price of $100.33.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by insiders.

State Street Company 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.