State Street Co. (NYSE:STT) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of State Street Co. (NYSE:STT) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,208 shares of the asset manager’s stock after purchasing an additional 14,169 shares during the quarter. Daiwa Securities Group Inc.’s holdings in State Street were worth $6,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the period. FMR LLC lifted its holdings in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. Amundi lifted its holdings in State Street by 11.1% in the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after acquiring an additional 561,773 shares during the period. Wellington Management Group LLP lifted its holdings in State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after acquiring an additional 462,201 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in State Street in the fourth quarter valued at approximately $44,070,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value 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. This trade represents a 6.80 % 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 Stock Up 0.0 %

Shares of 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. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.11 and a beta of 1.44. The stock has a 50 day moving average price of $97.18 and a 200 day moving average price of $94.09.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping 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 firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Analysts Set New Price Targets

A number of brokerages have issued reports on STT. Wells Fargo & Company boosted their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Truist Financial decreased their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price target on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.20.

About State Street

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.