20,796 Shares in State Street Co. (NYSE:STT) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new position in State Street Co. (NYSE:STT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 20,796 shares of the asset manager’s stock, valued at approximately $2,041,000.

Other institutional investors have also recently modified their holdings of the company. Coastline Trust Co purchased a new stake in shares of State Street during the third quarter valued at approximately $44,000. Friedenthal Financial purchased a new stake in State Street in the fourth quarter worth approximately $49,000. Capital Performance Advisors LLP bought a new stake in State Street in the 3rd quarter worth approximately $54,000. Versant Capital Management Inc raised its stake in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after buying an additional 197 shares during the last quarter. Finally, Tobam bought a new position in shares of State Street during the 3rd quarter valued at $77,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STT. Evercore ISI upped their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on shares of 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 assumed coverage on shares of State Street in a report on Tuesday, January 7th. They set a “hold” rating and a $106.00 target price for the company. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus target price of $100.33.

State Street Stock Down 3.0 %

Shares of STT opened at $97.51 on Friday. The business’s 50 day moving average is $97.72 and its 200 day moving average is $89.52. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 12-month low of $70.20 and a 12-month high of $101.91. The company has a market capitalization of $28.58 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 earnings per share. Research analysts expect that State Street Co. will post 8.45 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street’s dividend payout ratio is currently 48.03%.

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.