Voya Investment Management LLC Sells 11,927 Shares of State Street Co. (NYSE:STT)

Voya Investment Management LLC lowered its position in State Street Co. (NYSE:STT) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,938 shares of the asset manager’s stock after selling 11,927 shares during the period. Voya Investment Management LLC’s holdings in State Street were worth $12,655,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Albion Financial Group UT bought a new position in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd raised its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in State Street in the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC raised its position in State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after purchasing an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $87.58 on Tuesday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm has a market capitalization of $25.27 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $87.57 and a 200-day moving average of $93.69.

State Street (NYSE:STT) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the previous year, the business earned $1.69 EPS. On average, equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street’s payout ratio is presently 34.12%.

Analyst Ratings Changes

Several research firms recently weighed in on STT. Morgan Stanley dropped 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 report on Wednesday, April 2nd. Truist Financial dropped their price objective on shares of State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 21st. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods dropped their price objective on shares of State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the company a “buy” rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.