Diversified Trust Co Decreases Stake in State Street Co. (NYSE:STT)

Diversified Trust Co lessened its holdings in shares of State Street Co. (NYSE:STT) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,193 shares of the asset manager’s stock after selling 4,537 shares during the period. Diversified Trust Co’s holdings in State Street were worth $2,178,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. KBC Group NV grew its position in shares of State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after buying an additional 41,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after acquiring an additional 20,968 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of State Street by 118.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after acquiring an additional 23,171 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock valued at $2,499,860 in the last ninety days. Insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $97.74 on Wednesday. The company has a market capitalization of $28.65 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The business has a 50-day moving average of $97.19 and a 200-day moving average of $88.40.

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 the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the company earned $1.93 earnings per share. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities analysts anticipate that State Street Co. will post 8.42 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.76 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.11%. State Street’s dividend payout ratio is currently 48.03%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STT shares. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial initiated coverage on State Street in a research report on Tuesday. They issued a “hold” rating and a $106.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities 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 an average rating of “Hold” and an average target price of $100.33.

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.