Raiffeisen Bank International AG Invests $1.30 Million in State Street Co. (NYSE:STT)

Raiffeisen Bank International AG acquired a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,246 shares of the asset manager’s stock, valued at approximately $1,302,000.

Several other large investors have also bought and sold shares of STT. Adero Partners LLC boosted its stake in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 100 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after purchasing an additional 121 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of State Street by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after purchasing an additional 131 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in shares of State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 138 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of State Street by 1.3% during the 4th quarter. Huntington National Bank now owns 11,671 shares of the asset manager’s stock valued at $1,146,000 after purchasing an additional 150 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on STT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial cut their target price on shares of State Street from $89.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Evercore ISI decreased their price target on shares of State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Bank of America lifted their price target on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.15.

Insider Buying and Selling

In other news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 trade represents a 9.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,820 shares of company stock valued at $1,567,972 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of STT opened at $98.23 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. The firm’s fifty day simple moving average is $87.22 and its two-hundred day simple moving average is $93.81. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a market capitalization of $28.01 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the prior year, the company earned $1.69 EPS. As a group, analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.09%. State Street’s payout ratio is presently 34.12%.

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.