State Street Corporation $STT Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its stake in shares of State Street Corporation (NYSE:STT) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,305 shares of the asset manager’s stock after selling 7,205 shares during the quarter. Aberdeen Group plc owned about 0.09% of State Street worth $32,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STT. True Wealth Design LLC grew its stake in shares of State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of State Street during the 3rd quarter valued at approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in State Street in the third quarter valued at approximately $35,000. Measured Wealth Private Client Group LLC purchased a new position in State Street in the third quarter worth approximately $35,000. Finally, SJS Investment Consulting Inc. grew its position in State Street by 2,142.9% in the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.0%

Shares of NYSE:STT opened at $128.84 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market capitalization of $35.91 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. The firm’s 50-day moving average is $126.95 and its two-hundred day moving average is $123.23. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. Analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 35.71%.

Wall Street Analyst Weigh In

STT has been the topic of several recent analyst reports. Loop Capital set a $144.00 price target on State Street in a research note on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. Finally, Truist Financial set a $136.00 price target on shares of State Street in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $135.83.

Insider Activity

In related news, EVP John Plansky sold 16,100 shares of State Street stock in a transaction on 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 directly owned 56,162 shares in the company, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

About State Street

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.