Amalgamated Bank Has $5.52 Million Stock Holdings in State Street Co. (NYSE:STT)

Amalgamated Bank trimmed its holdings in State Street Co. (NYSE:STT) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,194 shares of the asset manager’s stock after selling 2,629 shares during the period. Amalgamated Bank’s holdings in State Street were worth $5,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Albion Financial Group UT bought a new position in State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd raised its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the last quarter. Coastline Trust Co bought a new position in shares of State Street in the third quarter valued at approximately $44,000. Friedenthal Financial purchased a new position in shares of State Street during the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new stake in State Street during the third quarter worth $54,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Up 0.2 %

Shares of NYSE STT opened at $97.57 on Friday. The business’s fifty day moving average price is $98.57 and its 200-day moving average price is $93.35. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a market capitalization of $28.15 billion, a PE ratio of 11.84, a P/E/G ratio of 1.11 and a beta of 1.43. 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 (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 earnings per share. On average, equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. State Street’s dividend payout ratio is currently 36.89%.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on STT. Barclays raised their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Truist Financial reduced their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $100.73.

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.