City State Bank Trims Stock Holdings in State Street Co. (NYSE:STT)

City State Bank decreased its stake in State Street Co. (NYSE:STT) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350 shares of the asset manager’s stock after selling 150 shares during the quarter. City State Bank’s holdings in State Street were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Czech National Bank increased its position in State Street by 4.5% in the fourth quarter. Czech National Bank now owns 63,561 shares of the asset manager’s stock worth $6,239,000 after buying an additional 2,729 shares in the last quarter. Graypoint LLC bought a new position in shares of State Street in the fourth quarter worth about $203,000. ST Germain D J Co. Inc. boosted its stake in shares of State Street by 6.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock worth $282,000 after acquiring an additional 180 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of State Street by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,321 shares of the asset manager’s stock worth $2,878,000 after acquiring an additional 535 shares during the period. Finally, InvesTrust bought a new position in shares of State Street in the fourth quarter worth about $742,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STT shares. Barclays upped their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial started coverage on State Street in a research note on Tuesday, January 7th. They issued a “hold” rating and a $106.00 price objective for the company. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI upped their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $100.33.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by company insiders.

State Street Trading Up 0.6 %

Shares of STT stock opened at $94.46 on Tuesday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $101.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $97.46 and its two-hundred day simple moving average is $89.05. The company has a market cap of $27.69 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the business posted $1.93 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.22%. State Street’s dividend payout ratio (DPR) is presently 48.03%.

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.