State Street Co. (NYSE:STT) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of State Street Co. (NYSE:STT) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,874,936 shares of the asset manager’s stock after acquiring an additional 10,404 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in State Street were worth $184,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STT. Farther Finance Advisors LLC boosted its position in shares of State Street by 95.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,399 shares of the asset manager’s stock valued at $301,000 after purchasing an additional 1,656 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in State Street by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 66,822 shares of the asset manager’s stock worth $5,912,000 after buying an additional 1,682 shares in the last quarter. Van ECK Associates Corp boosted its holdings in State Street by 1.8% during the third quarter. Van ECK Associates Corp now owns 86,131 shares of the asset manager’s stock worth $7,874,000 after buying an additional 1,543 shares in the last quarter. National Pension Service grew its position in State Street by 10.9% in the third quarter. National Pension Service now owns 530,724 shares of the asset manager’s stock worth $46,953,000 after buying an additional 51,998 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Down 3.0 %

NYSE STT opened at $89.80 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The firm’s fifty day simple moving average is $98.09 and its 200-day simple moving average is $93.86. The company has a market capitalization of $25.91 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last issued its earnings results 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 return on equity of 12.60% and a net margin of 12.14%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 EPS. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is presently 36.89%.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was 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 owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on STT shares. Barclays raised their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.20.

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.