ST Germain D J Co. Inc. Decreases Stake in State Street Co. (NYSE:STT)

ST Germain D J Co. Inc. reduced its stake in State Street Co. (NYSE:STT) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,689 shares of the asset manager’s stock after selling 180 shares during the period. ST Germain D J Co. Inc.’s holdings in State Street were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Y.D. More Investments Ltd increased its position in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC lifted its stake in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after buying an additional 412 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares during the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of State Street during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group set a $98.00 target price on State Street and gave the stock a “buy” rating in a report on Thursday, April 17th. Bank of America boosted their price target on shares of State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. Truist Financial raised State Street from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $112.00 in a research note on Wednesday, May 28th. Finally, Citigroup decreased 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $102.54.

State Street Trading Down 1.0%

Shares of STT stock opened at $96.08 on Thursday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The business’s 50 day moving average is $89.10 and its two-hundred day moving average is $94.02. 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 market cap of $27.40 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.11 and a beta of 1.45.

State Street (NYSE:STT) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter last year, the firm posted $1.69 EPS. Equities analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Tuesday, July 1st. State Street’s dividend payout ratio is 34.12%.

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.