State Street Co. (NYSE:STT) Shares Sold by CKW Financial Group

CKW Financial Group reduced its stake in shares of State Street Co. (NYSE:STT) by 26.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 550 shares of the asset manager’s stock after selling 200 shares during the period. CKW Financial Group’s holdings in State Street were worth $54,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in State Street during the fourth quarter worth about $25,000. Coastline Trust Co purchased a new stake in State Street in the 3rd quarter worth approximately $44,000. Friedenthal Financial acquired a new stake in shares of State Street during the 4th quarter worth approximately $49,000. Capital Performance Advisors LLP purchased a new position in shares of State Street during the 3rd quarter valued at approximately $54,000. Finally, Versant Capital Management Inc lifted 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 valued at $72,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

STT stock opened at $99.09 on Monday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $101.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $29.05 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The business has a 50 day simple moving average of $98.00 and a 200-day simple moving average of $90.58.

State Street (NYSE:STT) last issued its 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 company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3,267,560 billion. During the same period in the prior year, the business earned $2.04 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts anticipate that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analysts Set New Price Targets

A number of research firms have weighed in on STT. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Evercore ISI upped their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Truist Financial decreased 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. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction 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 sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

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.