Arjuna Capital Purchases 4,916 Shares of State Street Co. (NYSE:STT)

Arjuna Capital increased its position in shares of State Street Co. (NYSE:STT) by 64.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,517 shares of the asset manager’s stock after acquiring an additional 4,916 shares during the period. Arjuna Capital’s holdings in State Street were worth $1,229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of STT. Farther Finance Advisors LLC raised its holdings in State Street by 95.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,399 shares of the asset manager’s stock valued at $301,000 after buying an additional 1,656 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of State Street by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 66,822 shares of the asset manager’s stock valued at $5,912,000 after acquiring an additional 1,682 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of State Street by 9.5% during the third quarter. QRG Capital Management Inc. now owns 26,018 shares of the asset manager’s stock worth $2,302,000 after purchasing an additional 2,261 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of State Street by 1.2% during the third quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock worth $30,633,000 after purchasing an additional 4,052 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in State Street in the third quarter valued at $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

STT stock opened at $89.72 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50-day moving average is $97.91 and its 200-day moving average is $93.92. The stock 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 Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings data 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 firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the firm posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal 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 paid 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 yield of 3.39%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STT. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.20.

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.