Natixis Advisors LLC Lowers Stock Position in State Street Corporation $STT

Natixis Advisors LLC cut its stake in shares of State Street Corporation (NYSE:STT) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,252 shares of the asset manager’s stock after selling 4,274 shares during the period. Natixis Advisors LLC owned approximately 0.10% of State Street worth $37,188,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Regents of The University of California purchased a new position in shares of State Street during the third quarter worth $324,576,000. Norges Bank acquired a new stake in shares of State Street in the fourth quarter valued at $303,483,000. Two Sigma Investments LP raised its holdings in shares of State Street by 261.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock valued at $141,277,000 after buying an additional 880,507 shares during the period. First Trust Advisors LP raised its holdings in shares of State Street by 36.8% in the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager’s stock valued at $318,754,000 after buying an additional 738,456 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in State Street during the 3rd quarter worth about $62,092,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods raised their price objective on shares of State Street from $157.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their price target on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research report on Monday, April 20th. Finally, Truist Financial boosted their price target on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.57.

Insider Buying and Selling

In other State Street news, EVP Michael L. Richards sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $2,260,808.55. Following the sale, the chief executive officer owned 255,512 shares in the company, valued at $39,693,789.20. This trade represents a 5.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,476 shares of company stock valued at $7,624,925 over the last ninety days. Company insiders own 0.27% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $158.19 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street Corporation has a 52 week low of $95.61 and a 52 week high of $161.79. The firm’s 50 day moving average is $145.54 and its two-hundred day moving average is $133.15. The firm has a market capitalization of $43.78 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.87 and a beta of 1.43.

State Street (NYSE:STT) last issued its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.20. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.04 EPS. Research analysts forecast that State Street Corporation will post 12.35 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, July 1st. State Street’s dividend payout ratio is currently 34.08%.

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.