State Street Co. (NYSE:STT) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of State Street Co. (NYSE:STT) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 130,579 shares of the asset manager’s stock after selling 1,070 shares during the quarter. Nisa Investment Advisors LLC’s holdings in State Street were worth $12,816,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Peapack Gladstone Financial Corp raised its position in State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the last quarter. Rockland Trust Co. raised its holdings in shares of State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after purchasing an additional 150 shares in the last quarter. Empirical Finance LLC lifted its stake in State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after purchasing an additional 158 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in State Street by 6.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock worth $282,000 after buying an additional 180 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated 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 owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

State Street Trading Up 0.4 %

NYSE STT opened at $97.58 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The firm’s fifty day simple moving average is $97.86 and its 200-day simple moving average is $90.13. The company has a market capitalization of $28.61 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43.

State Street (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping 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 $3,267,560 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 EPS. As a group, sell-side analysts anticipate that State Street Co. will post 9.57 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on STT shares. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and increased their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. 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. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a report on Friday, December 20th. Finally, Morgan Stanley cut their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.