State Street Corporation $STT Shares Sold by Capital International Investors

Capital International Investors lowered its holdings in State Street Corporation (NYSE:STT) by 61.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 876,277 shares of the asset manager’s stock after selling 1,399,546 shares during the period. Capital International Investors’ holdings in State Street were worth $113,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in shares of State Street in the fourth quarter valued at $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after acquiring an additional 918 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after acquiring an additional 5,226 shares in the last quarter. Empowered Funds LLC raised its stake in shares of State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after acquiring an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP raised its stake in shares of State Street by 38.4% in the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after acquiring an additional 6,767 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.1%

STT stock opened at $161.91 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street Corporation has a twelve month low of $95.67 and a twelve month high of $163.95. The company’s 50 day moving average is $147.70 and its two-hundred day moving average is $134.16. The stock has a market cap of $44.81 billion, a P/E ratio of 16.42, a PEG ratio of 0.88 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. Research analysts expect that State Street Corporation will post 12.35 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.84 per share. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.1%. State Street’s dividend payout ratio (DPR) is 34.08%.

Analyst Upgrades and Downgrades

STT has been the subject of a number of recent research reports. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target for the company in a research note on Monday, April 6th. Truist Financial lifted their price target on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, April 20th. Citigroup lifted their price target on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. The Goldman Sachs Group lifted their price target on shares of State Street from $152.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada lifted their price target on shares of State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.57.

Insider Buying and Selling at State Street

In other news, EVP W. Bradford Hu sold 9,212 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the transaction, the executive vice president directly owned 59,552 shares in the company, valued at approximately $9,251,403.20. This trade represents a 13.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the transaction, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 52,476 shares of company stock valued at $7,624,925. 0.27% of the stock is owned by company insiders.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.