State Street Co. (NYSE:STT) Shares Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its position in shares of State Street Co. (NYSE:STT) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,396 shares of the asset manager’s stock after purchasing an additional 750 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in State Street were worth $726,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its position in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the fourth quarter worth $42,000. Friedenthal Financial acquired a new position in shares of State Street during the fourth quarter worth $49,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of State Street during the fourth quarter worth $56,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial reduced their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed 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. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley cut their price target on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.20.

State Street Stock Up 0.1 %

Shares of NYSE:STT opened at $90.63 on Friday. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company’s fifty day moving average is $95.93 and its two-hundred day moving average is $94.22. 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 released 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. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Equities analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.35%. State Street’s dividend payout ratio is currently 36.89%.

Insider Transactions at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.