HM Payson & Co. Sells 849 Shares of State Street Co. (NYSE:STT)

HM Payson & Co. decreased its stake in shares of State Street Co. (NYSE:STT) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,535 shares of the asset manager’s stock after selling 849 shares during the quarter. HM Payson & Co.’s holdings in State Street were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street in the 4th quarter valued at $42,000. Coastline Trust Co acquired a new stake in State Street in the 3rd quarter valued at $44,000. Finally, Friedenthal Financial acquired a new stake in State Street in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Down 0.1 %

Shares of NYSE STT opened at $89.72 on Friday. The business has a 50-day moving average of $97.91 and a 200-day moving average of $94.02. The firm has a market capitalization of $25.88 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. Sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. 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 payout ratio is 36.89%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial dropped 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. Deutsche Bank Aktiengesellschaft restated 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, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.20.

Insider Buying and Selling

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 value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’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 sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.