Trexquant Investment LP Acquires 180,582 Shares of State Street Co. (NYSE:STT)

Trexquant Investment LP boosted its holdings in shares of State Street Co. (NYSE:STT) by 2,673.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,337 shares of the asset manager’s stock after buying an additional 180,582 shares during the period. Trexquant Investment LP owned approximately 0.06% of State Street worth $18,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in State Street by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock valued at $704,238,000 after acquiring an additional 24,617 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the period. Amundi grew its stake in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after buying an additional 561,773 shares during the period. Franklin Resources Inc. boosted its stake in State Street by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager’s stock worth $335,884,000 after buying an additional 55,598 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of State Street by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock valued at $214,998,000 after buying an additional 381,260 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday. Citigroup cut their price target on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Truist Financial decreased their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and an average target price of $101.53.

State Street Stock Up 0.7 %

Shares of State Street stock opened at $89.62 on Tuesday. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.11 and a beta of 1.44. The business’s 50 day simple moving average is $95.20 and its 200-day simple moving average is $94.61. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. 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 (NYSE:STT) last announced its quarterly earnings data 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 net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company posted $2.04 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current 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%.

Insiders Place Their Bets

In related news, Director Gregory L. Summe sold 10,815 shares of State Street 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 sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents 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 company’s stock in a transaction that occurred 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 trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

State Street Company 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.