HB Wealth Management LLC Acquires 401 Shares of State Street Co. (NYSE:STT)

HB Wealth Management LLC increased its holdings in shares of State Street Co. (NYSE:STT) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,481 shares of the asset manager’s stock after purchasing an additional 401 shares during the quarter. HB Wealth Management LLC’s holdings in State Street were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. KBC Group NV lifted its stake in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares during the period. Asset Management One Co. Ltd. lifted its position in State Street by 17.3% during 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 purchasing an additional 20,183 shares during the period. Ensign Peak Advisors Inc grew its position in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares during the period. Banque Cantonale Vaudoise grew its position in State Street by 118.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after purchasing an additional 23,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after buying an additional 20,968 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial reduced their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $100.73.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $97.13 on Thursday. The stock has a 50-day moving average price of $97.82 and a 200 day moving average price of $90.08. 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 12-month low of $70.20 and a 12-month high of $101.91. The stock has a market capitalization of $28.47 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.06 and a beta of 1.43.

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 the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3,267,560 billion. During the same quarter last year, the business posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 9.57 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.