State Street Co. (NYSE:STT) Shares Sold by Empirical Finance LLC

Empirical Finance LLC lessened its holdings in State Street Co. (NYSE:STT) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,091 shares of the asset manager’s stock after selling 177 shares during the period. Empirical Finance LLC’s holdings in State Street were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Albion Financial Group UT acquired a new position in shares of State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd lifted its holdings in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Coastline Trust Co acquired a new position in State Street in the third quarter valued at approximately $44,000. Friedenthal Financial bought a new position in shares of State Street during the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC bought a new position in shares of State Street during the fourth quarter valued at approximately $56,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE STT opened at $98.03 on Tuesday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm has a market cap of $28.74 billion, a P/E ratio of 11.90, a PEG ratio of 1.12 and a beta of 1.43. The stock has a fifty day moving average price of $98.53 and a two-hundred day moving average price of $91.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business posted $2.04 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Research analysts forecast that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.10%. State Street’s payout ratio is currently 36.89%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial reduced 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. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’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 transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

State Street Company 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.