Allspring Global Investments Holdings LLC Has $6.14 Million Stock Position in State Street Co. (NYSE:STT)

Allspring Global Investments Holdings LLC lowered its position in shares of State Street Co. (NYSE:STT) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,222 shares of the asset manager’s stock after selling 10,181 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in State Street were worth $6,137,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in State Street by 24.9% during the 2nd quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $54,000 after acquiring an additional 146 shares during the last quarter. First Manhattan Co. boosted its holdings in shares of State Street by 7.5% in the 4th quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock valued at $164,000 after buying an additional 148 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of State Street by 1.8% in the 4th quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock valued at $647,000 after buying an additional 149 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of State Street by 0.8% in the 3rd quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager’s stock valued at $1,348,000 after buying an additional 151 shares during the last quarter. Finally, United Capital Financial Advisers LLC boosted its holdings in shares of State Street by 3.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 4,717 shares of the asset manager’s stock valued at $411,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on STT. Evercore ISI increased their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Barclays increased their price objective on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. increased their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. UBS Group raised their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.04.

State Street Stock Up 0.3 %

STT stock opened at $73.04 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52. The business’s fifty day moving average price is $73.99 and its two-hundred day moving average price is $72.37. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.07 EPS. On average, equities analysts anticipate that State Street Co. will post 7.91 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Insiders Place Their Bets

In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 in the last 90 days. Company insiders own 0.31% of the company’s stock.

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.