John G Ullman & Associates Inc. Decreases Holdings in State Street Co. (NYSE:STT)

John G Ullman & Associates Inc. reduced its position in State Street Co. (NYSE:STT) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 43,803 shares of the asset manager’s stock after selling 531 shares during the period. John G Ullman & Associates Inc.’s holdings in State Street were worth $4,299,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after purchasing an additional 41,442 shares during the last quarter. FMR LLC lifted its holdings in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of State Street by 1.0% in the 3rd 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 valued at $214,236,000 after purchasing an additional 23,252 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Performance

NYSE STT opened at $99.45 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a market capitalization of $28.69 billion, a P/E ratio of 12.07, a PEG ratio of 1.11 and a beta of 1.43. The business has a 50 day moving average price of $98.59 and a 200 day moving average price of $93.61. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share 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 firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the business posted $2.04 EPS. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STT. Morgan Stanley reduced their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Truist Financial reduced 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. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Activity at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s 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 transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $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 currently owned by company insiders.

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.