2,489 Shares in State Street Co. (NYSE:STT) Acquired by SYM FINANCIAL Corp

SYM FINANCIAL Corp purchased a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,489 shares of the asset manager’s stock, valued at approximately $244,000.

A number of other large investors also recently modified their holdings of STT. Geode Capital Management LLC raised its stake in State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after buying an additional 41,442 shares in the last quarter. FMR LLC raised its position in shares of State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. Metropolis Capital Ltd boosted its holdings in State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock valued at $379,209,000 after purchasing an additional 161,466 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Down 0.6 %

State Street stock opened at $101.61 on Monday. The stock’s 50 day moving average price is $98.51 and its 200 day moving average price is $91.25. The company has a market cap of $29.79 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, 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 $103.00.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping 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 business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the company posted $2.04 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is 36.89%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Finally, Truist Financial reduced their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, State Street currently has a consensus rating of “Hold” and an average price target of $100.73.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.

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.