1,007 Shares in State Street Co. (NYSE:STT) Acquired by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR purchased a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,007 shares of the asset manager’s stock, valued at approximately $99,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in State Street during the fourth quarter worth approximately $272,000. Charles Schwab Investment Management Inc. increased its position in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after acquiring an additional 10,404 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after acquiring an additional 7,446 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of State Street in the fourth quarter worth $395,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of State Street in the fourth quarter worth $44,070,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $90.63 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The firm has a fifty day moving average of $95.93 and a two-hundred day moving average of $94.16. 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 firm has a market cap of $26.14 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business posted $2.04 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts anticipate that State Street Co. will post 9.68 earnings per share 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. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley dropped their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Barclays increased their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial dropped their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, State Street presently has an average rating of “Hold” and an average target price of $101.20.

Insider Activity

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.