US Bancorp DE Sells 535 Shares of State Street Co. (NYSE:STT)

US Bancorp DE decreased its position in shares of State Street Co. (NYSE:STT) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 100,989 shares of the asset manager’s stock after selling 535 shares during the quarter. US Bancorp DE’s holdings in State Street were worth $9,912,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STT. Geode Capital Management LLC raised its stake in State Street by 0.6% during the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after acquiring an additional 41,442 shares in the last quarter. FMR LLC raised its stake in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares in the last quarter. Franklin Resources Inc. raised its stake in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after acquiring an additional 408,792 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in State Street by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,421,569 shares of the asset manager’s stock worth $214,236,000 after acquiring an additional 23,252 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Fogarty sold 3,705 shares of the 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 transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

State Street Price Performance

State Street stock opened at $96.86 on Tuesday. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock’s 50 day moving average price is $98.56 and its two-hundred day moving average price is $93.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 EPS. On average, equities analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial lowered their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. One 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. Based on data from MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus price target of $100.73.

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.