Xponance Inc. Sells 553 Shares of State Street Co. (NYSE:STT)

Xponance Inc. reduced its position in shares of State Street Co. (NYSE:STT) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,497 shares of the asset manager’s stock after selling 553 shares during the period. Xponance Inc.’s holdings in State Street were worth $4,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in shares of State Street in the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd raised its position in 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 purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in State Street in the fourth quarter worth $42,000. Friedenthal Financial bought a new stake in shares of State Street during the fourth quarter worth $49,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of State Street in the fourth quarter valued at $56,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Up 0.3 %

Shares of NYSE STT opened at $90.49 on Friday. The firm has a 50 day moving average price of $96.00 and a 200 day moving average price of $94.14. 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 market cap of $26.10 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the prior year, the company earned $2.04 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

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 $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.36%. State Street’s dividend payout ratio is presently 36.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on STT shares. Barclays increased their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley reduced their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lifted their target price on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Finally, Truist Financial cut their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. 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, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company 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.