Natixis Advisors LLC Boosts Holdings in State Street Co. (NYSE:STT)

Natixis Advisors LLC grew its position in State Street Co. (NYSE:STT) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 241,717 shares of the asset manager’s stock after purchasing an additional 2,765 shares during the period. Natixis Advisors LLC’s holdings in State Street were worth $23,724,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Adero Partners LLC boosted its position in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after purchasing an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares in the last quarter. Jacobi Capital Management LLC grew its stake in shares of State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after acquiring an additional 121 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after acquiring an additional 131 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 138 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Truist Financial dropped their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $101.20.

Insiders Place Their Bets

In related news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, 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 company insiders.

State Street Trading Up 1.3 %

STT stock opened at $87.90 on Tuesday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $25.36 billion, a P/E ratio of 10.67, a PEG ratio of 1.11 and a beta of 1.44. The company’s 50-day simple moving average is $96.48 and its 200-day simple moving average is $94.18.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $2.04 earnings per share. As a group, equities analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.46%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is presently 36.89%.

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.