Corient Private Wealth LLC Reduces Stock Position in State Street Co. (NYSE:STT)

Corient Private Wealth LLC lowered its stake in State Street Co. (NYSE:STT) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,697 shares of the asset manager’s stock after selling 6,822 shares during the quarter. Corient Private Wealth LLC owned 0.06% of State Street worth $17,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its holdings in State Street by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 241,717 shares of the asset manager’s stock worth $23,724,000 after purchasing an additional 2,765 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of State Street by 9.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,676 shares of the asset manager’s stock worth $263,000 after acquiring an additional 240 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its stake in shares of State Street by 27.8% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 4,600 shares of the asset manager’s stock worth $451,000 after acquiring an additional 1,000 shares during the last quarter. LBP AM SA boosted its stake in shares of State Street by 2.0% during the 4th quarter. LBP AM SA now owns 73,442 shares of the asset manager’s stock worth $7,208,000 after acquiring an additional 1,458 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of State Street by 2.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 107,416 shares of the asset manager’s stock worth $10,543,000 after acquiring an additional 2,213 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated 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 owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of NYSE STT opened at $88.04 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $25.40 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.11 and a beta of 1.44. The firm’s fifty day moving average is $96.29 and its two-hundred day moving average is $94.19. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.

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

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.45%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of several analyst reports. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Wells Fargo & Company lifted their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Morgan Stanley decreased their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Truist Financial decreased their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average target price of $101.20.

State Street 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.