First National Advisers LLC Sells 3,905 Shares of State Street Corporation $STT

First National Advisers LLC cut its stake in shares of State Street Corporation (NYSE:STTFree Report) by 25.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,637 shares of the asset manager’s stock after selling 3,905 shares during the period. First National Advisers LLC’s holdings in State Street were worth $1,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Chicago Partners Investment Group LLC increased its position in shares of 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 valued at $675,000 after buying an additional 83 shares during the period. Wedmont Private Capital increased its position in shares of State Street by 1.3% during 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 during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of State Street by 38.2% during 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 during the period. LVW Advisors LLC increased its position in shares of State Street by 1.7% during 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 during the period. Finally, Global Retirement Partners LLC increased its position in shares of State Street by 7.7% during 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 during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

NYSE:STT opened at $150.21 on Tuesday. The business has a 50 day moving average of $134.81 and a 200 day moving average of $128.61. The company has a market capitalization of $41.57 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.82 and a beta of 1.45. State Street Corporation has a 1-year low of $94.19 and a 1-year high of $156.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STTGet Free Report) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion during 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%.State Street’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. On average, sell-side analysts predict that State Street Corporation will post 12.31 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were given a $0.84 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. State Street’s payout ratio is presently 34.08%.

Key Stories Impacting State Street

Here are the key news stories impacting State Street this week:

  • Positive Sentiment: JPMorgan Chase raised its price target on State Street (NYSE: STT) to $158.50 from $137.50, indicating continued upside potential even though the rating remains neutral. Benzinga Tickerreport.com
  • Positive Sentiment: Zacks described State Street (NYSE: STT) as a strong momentum stock, which may support investor interest in the name. Zacks
  • Positive Sentiment: State Street (NYSE: STT) shares crossed above their 200-day moving average, a technical signal that can reinforce a constructive short-term outlook. Kalkine Media
  • Positive Sentiment: Brokerages now have a consensus recommendation of “Moderate Buy” on State Street (NYSE: STT), signaling generally favorable analyst sentiment. American Banking News
  • Neutral Sentiment: State Street Investment Management was listed among institutions using Chainlink’s expanding blockchain infrastructure, a development that is notable but not likely to move STT shares by itself. The Merkle News
  • Neutral Sentiment: State Street disclosed exits from substantial holdings in several non-core overseas names, including Bega Cheese, Elsight, and WA1 Resources; these portfolio updates are routine and appear unlikely to materially affect the stock. TipRanks
  • Neutral Sentiment: Commentary about State Street reflecting confidence in the financial sector and valuation after recent weakness is supportive, but it does not appear to be a direct company-specific catalyst. Kalkine Media Yahoo Finance

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Seaport Research Partners reiterated a “buy” rating and set a $170.00 price target on shares of State Street in a research report on Monday, April 20th. Keefe, Bruyette & Woods upped their price objective on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Evercore set a $158.00 price objective on shares of State Street and gave the stock an “outperform” rating in a research report on Monday, April 20th. Barclays set a $165.00 price target on shares of State Street in a report on Monday, April 20th. Finally, Truist Financial increased their price target on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, State Street currently has an average rating of “Moderate Buy” and a consensus price target of $155.77.

Read Our Latest Stock Analysis on State Street

Insider Buying and Selling

In other news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction dated 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 transaction, the chief operating officer owned 64,642 shares in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Plansky sold 16,100 shares of State Street stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,711 shares of company stock worth $3,933,032 in the last quarter. 0.27% of the stock is owned by insiders.

State Street Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corporation (NYSE:STTFree Report).

Institutional Ownership by Quarter for State Street (NYSE:STT)

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