Keybank National Association OH Lowers Position in State Street Co. (NYSE:STT)

Keybank National Association OH cut its holdings in shares of State Street Co. (NYSE:STT) by 23.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,776 shares of the asset manager’s stock after selling 3,595 shares during the quarter. Keybank National Association OH’s holdings in State Street were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Commerzbank Aktiengesellschaft FI lifted its stake in State Street by 8.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 17,273 shares of the asset manager’s stock worth $1,698,000 after acquiring an additional 1,281 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in State Street by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after acquiring an additional 10,404 shares in the last quarter. Plato Investment Management Ltd lifted its stake in State Street by 8.8% during the 4th quarter. Plato Investment Management Ltd now owns 30,480 shares of the asset manager’s stock worth $3,002,000 after acquiring an additional 2,466 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in State Street by 42.7% during the 4th quarter. Jones Financial Companies Lllp now owns 128,261 shares of the asset manager’s stock worth $12,589,000 after acquiring an additional 38,396 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in State Street during the 4th quarter worth about $42,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Trading Down 0.1 %

NYSE STT opened at $89.72 on Friday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a 50-day simple moving average of $97.91 and a 200-day simple moving average of $93.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $25.88 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

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

State Street Dividend Announcement

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

Insiders Place Their Bets

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on STT. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. 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 dropped their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.20.

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.