Farther Finance Advisors LLC Has $253,000 Stake in State Street Corporation (NYSE:STT)

Farther Finance Advisors LLC decreased its position in shares of State Street Corporation (NYSE:STT) by 16.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,852 shares of the asset manager’s stock after selling 566 shares during the period. Farther Finance Advisors LLC’s holdings in State Street were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street during the 4th quarter worth about $42,000. Coppell Advisory Solutions LLC increased its holdings in shares of State Street by 2,942.9% during 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 period. Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% during 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 period. Minot DeBlois Advisors LLC bought a new position in shares of State Street during the 4th quarter worth about $49,000. Finally, Whipplewood Advisors LLC bought a new stake in State Street in the fourth quarter valued at about $61,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

STT opened at $99.21 on Thursday. State Street Corporation has a one year low of $71.80 and a one year high of $103.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57. The company’s 50 day simple moving average is $92.28 and its 200-day simple moving average is $94.04. The stock has a market capitalization of $28.29 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.44.

State Street (NYSE:STT) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.85% and a return on equity of 12.79%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the prior year, the firm earned $1.69 earnings per share. Sell-side analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is currently 34.12%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on STT shares. Cfra Research cut shares of State Street from a “moderate buy” rating to a “hold” rating in a research note on Thursday, May 29th. Truist Financial raised shares of State Street from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $112.00 in a research note on Wednesday, May 28th. Wall Street Zen cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley set a $110.00 target price on shares of State Street and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $102.54.

Insider Activity at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

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.