ExodusPoint Capital Management LP Has $17.39 Million Stake in State Street Co. (NYSE:STT)

ExodusPoint Capital Management LP trimmed its stake in State Street Co. (NYSE:STT) by 24.9% during the fourth quarter, Holdings Channel reports. The fund owned 177,215 shares of the asset manager’s stock after selling 58,802 shares during the quarter. ExodusPoint Capital Management LP’s holdings in State Street were worth $17,394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Flagship Harbor Advisors LLC bought a new position in shares of State Street in the fourth quarter valued at approximately $272,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock worth $44,725,000 after acquiring an additional 14,476 shares during the period. Charles Schwab Investment Management Inc. lifted its position in State Street by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after acquiring an additional 10,404 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after acquiring an additional 7,446 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of State Street in the fourth quarter valued at about $395,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 7.8 %

Shares of State Street stock opened at $82.64 on Friday. The stock has a market capitalization of $23.84 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 12-month low of $70.20 and a 12-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 company has a 50-day simple moving average of $94.55 and a 200 day simple moving average of $94.53.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.04 EPS. Research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is presently 36.89%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Evercore ISI reduced their price objective on State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Barclays raised their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Citigroup reduced their target price on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. One 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.07.

Insider Activity

In other news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction 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 completion of the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following 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. 0.31% of the stock is currently owned by corporate insiders.

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.