State Street Co. (NYSE:STT) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its stake in shares of State Street Co. (NYSE:STT) by 41.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,716 shares of the asset manager’s stock after selling 7,635 shares during the quarter. Guggenheim Capital LLC’s holdings in State Street were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of STT. Canada Post Corp Registered Pension Plan acquired a new stake in shares of State Street during the fourth quarter worth $578,000. Rockefeller Capital Management L.P. raised its position in State Street by 5.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 26,052 shares of the asset manager’s stock worth $2,552,000 after buying an additional 1,421 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of State Street by 32.2% in the 4th quarter. Sterling Capital Management LLC now owns 29,079 shares of the asset manager’s stock worth $2,854,000 after acquiring an additional 7,087 shares during the period. Oak Associates Ltd. OH boosted its holdings in shares of State Street by 18.2% in the fourth quarter. Oak Associates Ltd. OH now owns 66,813 shares of the asset manager’s stock valued at $6,558,000 after acquiring an additional 10,309 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of State Street during the fourth quarter worth about $2,225,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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 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 owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

State Street Trading Up 3.9 %

Shares of STT opened at $83.74 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The stock has a market cap of $24.17 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm has a 50 day simple moving average of $88.58 and a 200-day simple moving average of $93.70.

State Street (NYSE:STT) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the business posted $1.69 earnings per share. Equities analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.63%. State Street’s dividend payout ratio (DPR) is 34.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price objective on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Bank of America lifted their price target on State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. Truist Financial cut their price objective on State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 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.