Roberts Glore & Co. Inc. IL Sells 402 Shares of State Street Co. (NYSE:STT)

Roberts Glore & Co. Inc. IL cut its position in shares of State Street Co. (NYSE:STT) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,486 shares of the asset manager’s stock after selling 402 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in State Street were worth $637,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT purchased a new stake in State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd boosted its holdings in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in State Street during the 4th quarter valued at about $42,000. Coastline Trust Co purchased a new stake in State Street during the 3rd quarter valued at about $44,000. Finally, Friedenthal Financial purchased a new stake in State Street during the 4th quarter valued at about $49,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STT has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded 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. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Truist Financial dropped their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus price target of $101.20.

Insider Activity at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street 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 completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

State Street Trading Down 0.1 %

STT opened at $89.72 on Friday. The stock has a market cap of $25.88 billion, a PE ratio of 10.89, a PEG ratio of 1.11 and a beta of 1.44. 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 business has a 50 day moving average of $97.91 and a 200-day moving average of $94.02. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business posted $2.04 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

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

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.