BDF Gestion Sells 3,040 Shares of State Street Co. (NYSE:STT)

BDF Gestion reduced its position in shares of State Street Co. (NYSE:STT) by 11.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,398 shares of the asset manager’s stock after selling 3,040 shares during the quarter. BDF Gestion’s holdings in State Street were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV raised its position in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after acquiring an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the period. Merit Financial Group LLC bought a new position in shares of State Street in the fourth quarter valued at about $395,000. Banque Cantonale Vaudoise raised its position in shares of State Street by 118.9% in the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after purchasing an additional 23,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of State Street by 43.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.5 %

Shares of State Street stock opened at $100.90 on Thursday. The company has a market capitalization of $29.58 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.11 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 12-month low of $70.20 and a 12-month high of $102.63. The firm’s 50-day moving average price is $98.20 and its two-hundred day moving average price is $90.90.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the company posted $2.04 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts forecast that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.01%. State Street’s payout ratio is currently 36.89%.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STT. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday. Truist Financial dropped their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. Barclays raised their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. One research analyst has rated the stock with a sell rating, seven have assigned 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 a consensus price target of $100.73.

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.