Safe Harbor Fiduciary LLC Has $605,000 Stake in State Street Co. (NYSE:STT)

Safe Harbor Fiduciary LLC decreased its stake in shares of State Street Co. (NYSE:STT) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,161 shares of the asset manager’s stock after selling 128 shares during the quarter. Safe Harbor Fiduciary LLC’s holdings in State Street were worth $605,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of State Street by 5.7% during the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock worth $737,162,000 after purchasing an additional 406,396 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock worth $704,238,000 after buying an additional 24,617 shares during the last quarter. FMR LLC raised its stake in State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Amundi raised its stake in State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock valued at $407,166,000 after buying an additional 563,790 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on 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 transaction, 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 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 firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares of the company’s stock, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,820 shares of company stock valued at $1,567,972 over the last three months. Corporate insiders own 0.29% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $98.23 on Friday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50-day moving average is $87.22 and its 200 day moving average is $93.81. The stock has a market capitalization of $28.01 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the previous year, the firm posted $1.69 earnings per share. On average, sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on STT shares. Keefe, Bruyette & Woods reduced their target price on shares of State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Barclays cut their target price on shares of State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Bank of America increased their target price on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. 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 note on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the stock a “buy” rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $102.15.

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.