State Street Co. (NYSE:STT) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its holdings in State Street Co. (NYSE:STT) by 43.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,784 shares of the asset manager’s stock after acquiring an additional 8,420 shares during the period. Mizuho Securities USA LLC’s holdings in State Street were worth $2,727,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new position in State Street in the fourth quarter valued at about $105,000. Northwest & Ethical Investments L.P. raised its holdings in shares of State Street by 141.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,590 shares of the asset manager’s stock valued at $2,315,000 after buying an additional 13,838 shares during the period. Magnetar Financial LLC raised its holdings in shares of State Street by 77.0% during the 4th quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager’s stock valued at $409,000 after buying an additional 1,813 shares during the period. Teacher Retirement System of Texas boosted its holdings in State Street by 102.3% in the 4th quarter. Teacher Retirement System of Texas now owns 428,383 shares of the asset manager’s stock worth $42,046,000 after acquiring an additional 216,583 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in State Street by 0.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 125,596 shares of the asset manager’s stock worth $12,327,000 after acquiring an additional 1,106 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 2.6 %

Shares of NYSE:STT opened at $92.87 on Tuesday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company’s fifty day moving average is $95.90 and its two-hundred day moving average is $94.33. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $26.79 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. Equities analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.27%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

STT has been the topic of a number of analyst reports. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley lowered their target price on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Truist Financial dropped their target price on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average price target of $101.87.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

State Street Company 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.