State Street Co. (NYSE:STT) Stock Position Decreased by Achmea Investment Management B.V.

Achmea Investment Management B.V. cut its position in shares of State Street Co. (NYSE:STT) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,319 shares of the asset manager’s stock after selling 16,507 shares during the period. Achmea Investment Management B.V. owned 0.08% of State Street worth $22,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Adero Partners LLC lifted its holdings in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after purchasing an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 103 shares in the last quarter. Jacobi Capital Management LLC grew its position in State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after acquiring an additional 121 shares during the period. Moors & Cabot Inc. grew its position in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after acquiring an additional 131 shares during the period. Finally, Apollon Wealth Management LLC grew its position in State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after acquiring an additional 138 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 0.0 %

NYSE:STT opened at $85.76 on Thursday. 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 company has a market cap of $24.74 billion, a PE ratio of 10.41, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a 50-day simple moving average of $97.18 and a 200 day simple moving average of $94.09.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business 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% on a year-over-year basis. During the same period last year, the company earned $2.04 earnings per share. On average, sell-side analysts expect that State Street Co. will post 9.68 EPS for the current fiscal 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 paid 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 3.54%. State Street’s dividend payout ratio is 36.89%.

Insider Buying and Selling at State Street

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

Wall Street Analyst Weigh In

Several analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial cut their target price 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. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.