Mercer Global Advisors Inc. ADV Has $2.40 Million Stock Holdings in State Street Co. (NYSE:STT)

Mercer Global Advisors Inc. ADV decreased its holdings in shares of State Street Co. (NYSE:STT) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,490 shares of the asset manager’s stock after selling 4,442 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in State Street were worth $2,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of STT. B. Riley Wealth Advisors Inc. bought a new position in State Street during the third quarter valued at about $209,000. Principal Financial Group Inc. raised its stake in shares of State Street by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock valued at $30,633,000 after acquiring an additional 4,052 shares in the last quarter. GAMMA Investing LLC lifted its holdings in State Street by 28.4% in the 4th quarter. GAMMA Investing LLC now owns 3,202 shares of the asset manager’s stock worth $314,000 after purchasing an additional 709 shares during the last quarter. Nordea Investment Management AB lifted its holdings in State Street by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock worth $214,998,000 after purchasing an additional 381,260 shares during the last quarter. Finally, InvesTrust bought a new stake in State Street during the fourth quarter worth approximately $742,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

STT opened at $90.74 on Wednesday. The stock has a market cap of $26.19 billion, a PE ratio of 11.01, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The stock’s 50 day simple moving average is $86.53 and its 200-day simple moving average is $93.58. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.30 billion. During the same quarter in the prior year, the company posted $1.69 EPS. Sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Tuesday, April 1st. State Street’s dividend payout ratio is 34.12%.

Analyst Ratings Changes

STT has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Evercore ISI decreased their price target on shares of State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Barclays dropped their price objective on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Truist Financial dropped their price target on State Street from $89.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, State Street presently has an average rating of “Hold” and an average target price of $102.15.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on 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 of the company’s stock, 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. Company insiders own 0.29% of the company’s stock.

State Street Profile

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.