R Squared Ltd Invests $58,000 in State Street Co. (NYSE:STT)

R Squared Ltd acquired a new stake in shares of State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 590 shares of the asset manager’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter worth $25,000. Coastline Trust Co acquired a new position in State Street during the third quarter worth about $44,000. Friedenthal Financial acquired a new stake in State Street in the 4th quarter valued at about $49,000. Capital Performance Advisors LLP bought a new position in shares of State Street during the 3rd quarter valued at about $54,000. Finally, Versant Capital Management Inc grew its stake in shares of State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.6 %

State Street stock opened at $101.61 on Friday. The stock has a market cap of $29.79 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.13 and a beta of 1.43. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $98.51 and its 200-day simple moving average is $91.20.

State Street (NYSE:STT) last announced 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the company earned $2.04 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. 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 2.99%. State Street’s dividend payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Finally, Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Activity at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by company 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.