American Century Companies Inc. Has $32.95 Million Stock Position in State Street Co. (NYSE:STT)

American Century Companies Inc. boosted its position in State Street Co. (NYSE:STT) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,668 shares of the asset manager’s stock after purchasing an additional 7,833 shares during the period. American Century Companies Inc. owned 0.11% of State Street worth $32,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STT. Mizuho Securities USA LLC lifted its holdings in shares of State Street by 43.5% during the fourth quarter. Mizuho Securities USA LLC now owns 27,784 shares of the asset manager’s stock worth $2,727,000 after purchasing an additional 8,420 shares during the period. Millstone Evans Group LLC bought a new position in State Street during the 4th quarter worth $105,000. Northwest & Ethical Investments L.P. lifted its holdings in State Street by 141.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,590 shares of the asset manager’s stock worth $2,315,000 after buying an additional 13,838 shares during the period. Magnetar Financial LLC grew its position in shares of State Street by 77.0% in the 4th quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager’s stock valued at $409,000 after buying an additional 1,813 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of State Street by 102.3% in the fourth quarter. Teacher Retirement System of Texas now owns 428,383 shares of the asset manager’s stock valued at $42,046,000 after buying an additional 216,583 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $88.95 on Friday. The stock’s 50 day moving average is $95.35 and its 200-day moving average is $94.40. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last issued its quarterly earnings data 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the company earned $2.04 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Truist Financial reduced their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Morgan Stanley lowered their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.53.

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.