Loomis Sayles & Co. L P Purchases 311 Shares of State Street Co. (NYSE:STT)

Loomis Sayles & Co. L P boosted its position in shares of State Street Co. (NYSE:STT) by 187.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477 shares of the asset manager’s stock after acquiring an additional 311 shares during the period. Loomis Sayles & Co. L P’s holdings in State Street were worth $47,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Townsquare Capital LLC bought a new stake in State Street during the 3rd quarter valued at approximately $351,000. Public Sector Pension Investment Board grew its stake in shares of State Street by 2.3% in the third quarter. Public Sector Pension Investment Board now owns 52,286 shares of the asset manager’s stock worth $4,626,000 after acquiring an additional 1,200 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in State Street by 14.1% during the third quarter. Rockefeller Capital Management L.P. now owns 24,631 shares of the asset manager’s stock worth $2,176,000 after acquiring an additional 3,037 shares during the period. Verition Fund Management LLC raised its stake in State Street by 57.3% during the 3rd quarter. Verition Fund Management LLC now owns 39,854 shares of the asset manager’s stock valued at $3,526,000 after purchasing an additional 14,517 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in State Street in the 3rd quarter valued at $1,066,000. 87.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction 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 sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were 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. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company lowered their price target on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday. Truist Financial reduced their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. 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 report on Friday, December 20th. Finally, Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.53.

State Street Stock Up 0.7 %

Shares of STT opened at $89.62 on Tuesday. The company has a market capitalization of $25.85 billion, a P/E ratio of 10.88, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The business’s 50 day simple moving average is $95.20 and its 200-day simple moving average is $94.61. 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 data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is presently 36.89%.

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.