Barclays PLC Has $110.67 Million Holdings in State Street Corporation $STT

Barclays PLC lessened its stake in shares of State Street Corporation (NYSE:STT) by 45.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 857,828 shares of the asset manager’s stock after selling 718,504 shares during the period. Barclays PLC’s holdings in State Street were worth $110,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Wilkerson Advisory Group LLC acquired a new stake in State Street during the 4th quarter worth about $29,000. JPL Wealth Management LLC acquired a new stake in State Street during the 3rd quarter worth about $29,000. Measured Wealth Private Client Group LLC acquired a new stake in State Street during the 3rd quarter worth about $35,000. Ameriflex Group Inc. raised its holdings in State Street by 102.5% during the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after buying an additional 161 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in State Street during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on STT shares. Barclays set a $165.00 price objective on State Street in a report on Monday, April 20th. Seaport Research Partners restated a “buy” rating and set a $170.00 price objective on shares of State Street in a report on Monday, April 20th. Morgan Stanley boosted their price objective on State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Royal Bank Of Canada upped their target price on State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a report on Monday, April 20th. Finally, Truist Financial upped their target price on State Street from $136.00 to $150.00 and gave the company a “hold” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $158.57.

Insider Transactions at State Street

In related news, COO Mostapha Tahiri sold 9,611 shares of the business’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 owned 64,642 shares of the company’s stock, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP W. Bradford Hu sold 9,212 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $1,431,084.20. Following the completion of the sale, the executive vice president directly owned 59,552 shares of the company’s stock, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 37,876 shares of company stock worth $5,866,583. 0.27% of the stock is owned by corporate insiders.

State Street Price Performance

Shares of STT opened at $167.29 on Tuesday. The company has a market capitalization of $46.30 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 0.92 and a beta of 1.43. State Street Corporation has a fifty-two week low of $96.16 and a fifty-two week high of $170.54. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50-day moving average is $151.60 and its 200-day moving average is $135.93.

State Street (NYSE:STT) last issued its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. Equities research analysts expect that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.0%. State Street’s payout ratio is presently 34.08%.

About State Street

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.