ProShare Advisors LLC Has $6.16 Million Stock Position in State Street Co. (NYSE:STT)

ProShare Advisors LLC raised its holdings in shares of State Street Co. (NYSE:STT) by 9.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 62,799 shares of the asset manager’s stock after buying an additional 5,414 shares during the period. ProShare Advisors LLC’s holdings in State Street were worth $6,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Albion Financial Group UT acquired a new stake in State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its stake in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street in the 4th quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its position in shares of State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after acquiring an additional 311 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,820 shares of company stock worth $1,567,972 in the last ninety days. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

STT has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price target on State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Barclays decreased their target price on shares of State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Truist Financial dropped their price target 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Citigroup dropped their target price on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.15.

State Street Stock Performance

Shares of STT stock opened at $98.23 on Monday. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.42. The company has a 50-day simple moving average of $87.22 and a 200 day simple moving average of $93.82. 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 issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the business posted $1.69 earnings per share. On average, sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

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