State Street Co. (NYSE:STT) Stock Position Boosted by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC raised its holdings in State Street Co. (NYSE:STT) by 11.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,396 shares of the asset manager’s stock after acquiring an additional 750 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in State Street were worth $726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of STT. OneDigital Investment Advisors LLC acquired a new stake in State Street in the 3rd quarter valued at about $270,000. Empowered Funds LLC lifted its holdings in State Street by 11.4% in the 3rd quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager’s stock valued at $432,000 after acquiring an additional 504 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in State Street by 1.2% in the 3rd quarter. Pathstone Holdings LLC now owns 74,575 shares of the asset manager’s stock valued at $6,598,000 after acquiring an additional 856 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in State Street by 9.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 24,696 shares of the asset manager’s stock valued at $2,185,000 after acquiring an additional 2,124 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in State Street by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock valued at $512,000 after acquiring an additional 184 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $368,536.35. Following the completion of the transaction, 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. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research analyst reports. Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Truist Financial reduced their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.20.

State Street Price Performance

NYSE STT opened at $90.63 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a 50 day simple moving average of $95.93 and a 200-day simple moving average of $94.22. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.

State Street (NYSE:STT) last posted its earnings results 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 firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 earnings per share. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is 36.89%.

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.