State Street Co. (NYSE:STT) Stock Holdings Reduced by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in shares of State Street Co. (NYSE:STT) by 15.8% in the fourth quarter, Holdings Channel reports. The firm owned 16,720 shares of the asset manager’s stock after selling 3,141 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in State Street were worth $1,641,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its position in 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 valued at $514,136,000 after acquiring an additional 1,354,560 shares in the last quarter. FMR LLC grew its position in State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Amundi increased its stake in shares of State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after purchasing an additional 462,201 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of State Street in the 4th quarter valued at $44,070,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other news, 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 completion of the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction 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. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

State Street Stock Down 0.9 %

STT stock opened at $91.82 on Friday. The business’s 50-day simple moving average is $95.53 and its 200 day simple moving average is $94.36. 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 $26.49 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last released 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. The business 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%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 earnings per share. On average, research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is 36.89%.

Wall Street Analyst Weigh In

Several research firms have weighed in on STT. Wells Fargo & Company raised their target price on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays lifted their price target 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. Finally, Truist Financial decreased their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.87.

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.