Gulf International Bank UK Ltd Sells 253 Shares of State Street Co. (NYSE:STT)

Gulf International Bank UK Ltd lessened its stake in State Street Co. (NYSE:STT) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,874 shares of the asset manager’s stock after selling 253 shares during the quarter. Gulf International Bank UK Ltd’s holdings in State Street were worth $2,146,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Albion Financial Group UT bought a new position in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Coastline Trust Co bought a new position in shares of State Street in the third quarter valued at approximately $44,000. Friedenthal Financial bought a new position in shares of State Street in the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC bought a new position in shares of State Street in the fourth quarter valued at approximately $56,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street Price Performance

Shares of NYSE STT opened at $99.45 on Friday. The stock has a market cap of $28.69 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. 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 quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average of $98.59 and a 200-day moving average of $93.51.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during 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%. The firm’s quarterly 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 earnings per share. Equities research 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 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 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STT. Truist Financial dropped their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. Wells Fargo & Company lifted their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.73.

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.