Skandinaviska Enskilda Banken AB publ Sells 54,549 Shares of State Street Co. (NYSE:STT)

Skandinaviska Enskilda Banken AB publ decreased its position in State Street Co. (NYSE:STT) by 37.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,136 shares of the asset manager’s stock after selling 54,549 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in State Street were worth $9,055,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of STT. Albion Financial Group UT bought a new position in State Street in the fourth quarter valued at about $25,000. Y.D. More Investments Ltd lifted its holdings in State Street by 116.6% in the fourth 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 State Street in the fourth quarter valued at about $42,000. Coastline Trust Co bought a new position in State Street in the third quarter valued at about $44,000. Finally, Friedenthal Financial bought a new position in shares of State Street in the fourth quarter worth about $49,000. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on STT shares. Barclays raised their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Morgan Stanley decreased their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.20.

State Street Stock Performance

NYSE STT opened at $86.90 on Friday. The stock has a market capitalization of $25.07 billion, a PE ratio of 10.55, a P/E/G ratio of 1.11 and a beta of 1.44. The business has a 50 day simple moving average of $96.69 and a two-hundred day simple moving average of $94.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last released its quarterly earnings results 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 analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 EPS. On average, research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.