State Street Co. (NYSE:STT) Shares Purchased by Greenleaf Trust

Greenleaf Trust raised its stake in State Street Co. (NYSE:STT) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,781 shares of the asset manager’s stock after purchasing an additional 384 shares during the period. Greenleaf Trust’s holdings in State Street were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of State Street in the 4th quarter valued at about $272,000. KBC Group NV boosted its holdings in shares of State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares during the period. Merit Financial Group LLC purchased a new position in shares of State Street during the fourth quarter worth approximately $395,000. Asset Management One Co. Ltd. increased its holdings in shares of State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after acquiring an additional 20,183 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

STT has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Evercore ISI boosted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.73.

State Street Price Performance

Shares of NYSE:STT opened at $101.61 on Monday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The firm has a market capitalization of $29.79 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. The business’s 50 day simple moving average is $98.51 and its 200-day simple moving average is $91.25. 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 posted its earnings results 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. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 earnings per share. As a group, equities analysts forecast that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.