Piscataqua Savings Bank Decreases Stake in State Street Co. (NYSE:STT)

Piscataqua Savings Bank lessened its holdings in State Street Co. (NYSE:STT) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,937 shares of the asset manager’s stock after selling 130 shares during the quarter. Piscataqua Savings Bank’s holdings in State Street were worth $386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STT. KBC Group NV grew 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 worth $6,607,000 after buying an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in 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 purchasing an additional 20,183 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of State Street by 118.9% in the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after buying an additional 23,171 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of State Street during the 4th quarter worth $395,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in State Street by 43.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after buying an additional 20,968 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Up 1.6 %

NYSE STT opened at $99.09 on Monday. The firm has a market capitalization of $29.05 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. State Street Co. has a one year low of $70.20 and a one year high of $101.91. The company has a 50-day simple moving average of $98.00 and a 200-day simple moving average of $90.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3,267,560 billion. During the same quarter last year, the business posted $2.04 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that State Street Co. will post 9.43 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on STT. Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.73.

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.