State Street Corporation $STT Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its position in shares of State Street Corporation (NYSE:STT) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 384,500 shares of the asset manager’s stock after selling 13,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in State Street were worth $49,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its stake in State Street by 1.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock worth $675,000 after acquiring an additional 83 shares during the last quarter. Wedmont Private Capital grew its stake in shares of State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock valued at $861,000 after buying an additional 85 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after buying an additional 94 shares in the last quarter. LVW Advisors LLC grew its stake in shares of State Street by 1.7% in the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after buying an additional 96 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after buying an additional 105 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. The Goldman Sachs Group increased their target price on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Argus increased their target price on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Truist Financial increased their target price on State Street from $136.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, April 20th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $170.00 target price on shares of State Street in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average price target of $155.77.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president owned 43,522 shares of the company’s stock, valued at $6,697,600.58. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mostapha Tahiri sold 9,611 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the sale, the chief operating officer directly owned 64,642 shares in the company, valued at approximately $9,885,701.06. This trade represents a 12.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,711 shares of company stock valued at $3,933,032 in the last quarter. Insiders own 0.27% of the company’s stock.

State Street Trading Up 0.3%

Shares of STT opened at $150.57 on Wednesday. The company has a market capitalization of $41.67 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.82 and a beta of 1.45. State Street Corporation has a one year low of $94.19 and a one year high of $156.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a 50-day moving average price of $135.25 and a 200 day moving average price of $128.87.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business posted $2.04 earnings per share. State Street’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts forecast that State Street Corporation will post 12.31 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is currently 34.08%.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.