Securian Asset Management Inc. Sells 846 Shares of State Street Co. (NYSE:STT)

Securian Asset Management Inc. decreased its position in State Street Co. (NYSE:STT) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,669 shares of the asset manager’s stock after selling 846 shares during the quarter. Securian Asset Management Inc.’s holdings in State Street were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in State Street by 21.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,296 shares of the asset manager’s stock worth $422,000 after acquiring an additional 751 shares during the last quarter. Moors & Cabot Inc. increased its stake in State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock worth $1,799,000 after acquiring an additional 131 shares during the last quarter. AGF Management Ltd. increased its stake in State Street by 27.9% in the 4th quarter. AGF Management Ltd. now owns 10,065 shares of the asset manager’s stock worth $988,000 after acquiring an additional 2,193 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of State Street by 90.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 11,010 shares of the asset manager’s stock valued at $1,081,000 after purchasing an additional 5,220 shares during the last quarter. Finally, Sage Mountain Advisors LLC bought a new position in shares of State Street during the 4th quarter valued at approximately $267,000. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $84.23 on Friday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock has a market capitalization of $24.30 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 1.11 and a beta of 1.44. The stock has a fifty day simple moving average of $96.91 and a two-hundred day simple moving average of $94.03. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

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

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Analyst Upgrades and Downgrades

STT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Morgan Stanley cut their target price on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Truist Financial cut their target price on 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 raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.20.

Insider Activity at State Street

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

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.