State Street Corporation $STT Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC trimmed its holdings in State Street Corporation (NYSE:STT) by 67.9% during the third quarter, HoldingsChannel reports. The firm owned 4,000 shares of the asset manager’s stock after selling 8,452 shares during the period. Longfellow Investment Management Co. LLC’s holdings in State Street were worth $464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Advisory Inc. increased its holdings in shares of State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 93 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in State Street by 38.2% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after buying an additional 94 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of State Street by 7.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after acquiring an additional 105 shares during the last quarter. Security National Bank of SO Dak raised its holdings in shares of State Street by 0.5% during the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after acquiring an additional 105 shares during the period. Finally, SYM FINANCIAL Corp raised its holdings in shares of State Street by 4.9% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,586 shares of the asset manager’s stock worth $300,000 after acquiring an additional 120 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 1.1%

Shares of STT stock opened at $125.19 on Friday. The company has a 50-day moving average of $129.84 and a two-hundred day moving average of $121.59. The firm has a market cap of $34.89 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $137.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The firm had revenue of $3.67 billion for 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 period in the prior year, the business posted $2.60 EPS. On average, analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. State Street’s payout ratio is presently 35.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on STT shares. Citigroup initiated coverage on shares of State Street in a report on Monday, February 23rd. They issued a “buy” rating and a $150.00 price objective for the company. Morgan Stanley decreased their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Truist Financial set a $136.00 price target on shares of State Street in a research note on Tuesday, January 20th. TD Cowen restated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Profile

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.