Candriam S.C.A. Sells 2,182 Shares of State Street Co. (NYSE:STT)

Candriam S.C.A. lowered its position in State Street Co. (NYSE:STT) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,567 shares of the asset manager’s stock after selling 2,182 shares during the period. Candriam S.C.A.’s holdings in State Street were worth $4,276,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd increased its position in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter valued at $42,000. Coastline Trust Co bought a new position in State Street during the 3rd quarter worth about $44,000. Finally, Friedenthal Financial bought a new position in State Street during the 4th quarter worth about $49,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.1 %

State Street stock opened at $89.72 on Friday. The firm has a market capitalization of $25.88 billion, a PE ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.44. The company’s 50-day moving average is $97.91 and its 200-day moving average is $94.02. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s revenue for the quarter 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. Sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STT. Morgan Stanley lowered their target price on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company increased their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Truist Financial lowered their target price on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Barclays increased their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.20.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was 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 dated 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 sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $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 currently owned by insiders.

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.