Howland Capital Management LLC Purchases Shares of 4,477 State Street Co. (NYSE:STT)

Howland Capital Management LLC acquired a new position in State Street Co. (NYSE:STT) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,477 shares of the asset manager’s stock, valued at approximately $439,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in State Street by 0.6% in the 3rd 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 during the last quarter. FMR LLC grew its holdings in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of State Street by 30.4% in 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 acquiring an additional 1,354,560 shares in the last quarter. Metropolis Capital Ltd increased its stake in State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after acquiring an additional 408,792 shares during the period. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial dropped 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company increased 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, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $100.73.

State Street Trading Down 0.2 %

Shares of STT opened at $99.44 on Monday. 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 Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market cap of $29.15 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.12 and a beta of 1.43. The business’s fifty day moving average is $98.53 and its 200-day moving average is $91.76.

State Street (NYSE:STT) last released its 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. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 earnings per share. Equities analysts anticipate that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.06%. The ex-dividend date was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

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.