Todd Asset Management LLC Sells 22,007 Shares of State Street Co. (NYSE:STT)

Todd Asset Management LLC trimmed its holdings in shares of State Street Co. (NYSE:STT) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 266,999 shares of the asset manager’s stock after selling 22,007 shares during the quarter. Todd Asset Management LLC owned 0.09% of State Street worth $26,206,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC increased its position in shares of 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 acquiring an additional 1,354,560 shares in the last quarter. FMR LLC boosted its stake in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. Wellington Management Group LLP increased its holdings in State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares in the last quarter. National Bank of Canada FI raised its stake in shares of State Street by 99.4% in the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after purchasing an additional 442,725 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of 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 in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on STT shares. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Truist Financial lowered 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. One investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.73.

Insider Activity at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

State Street Price Performance

NYSE:STT opened at $98.56 on Tuesday. The company has a market cap of $28.43 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.11 and a beta of 1.43. The firm’s fifty day moving average price is $98.50 and its two-hundred day moving average price is $93.16. State Street Co. has a one year low of $70.20 and a one year high of $103.00. 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 (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion for 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%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 EPS. Equities analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued 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 yield of 3.08%. State Street’s payout ratio is currently 36.89%.

State Street Company 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.