State Street Corporation $STT Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of State Street Corporation (NYSE:STT) by 938.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,386 shares of the asset manager’s stock after purchasing an additional 239,831 shares during the quarter. SG Americas Securities LLC owned approximately 0.10% of State Street worth $34,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Assenagon Asset Management S.A. boosted its stake in State Street by 3.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 38,505 shares of the asset manager’s stock worth $4,968,000 after buying an additional 1,176 shares during the last quarter. Diversified Trust Co. increased its stake in shares of State Street by 34.3% during the 4th quarter. Diversified Trust Co. now owns 2,389 shares of the asset manager’s stock valued at $308,000 after acquiring an additional 610 shares during the last quarter. Baker Tilly Wealth Management LLC acquired a new position in shares of State Street during the 4th quarter valued at about $222,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of State Street by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 68,906 shares of the asset manager’s stock worth $9,255,000 after acquiring an additional 351 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of State Street by 1.3% during the 4th quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock worth $861,000 after acquiring an additional 85 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Up 0.5%

Shares of NYSE:STT opened at $126.91 on Thursday. The stock has a 50-day simple moving average of $127.24 and a 200-day simple moving average of $122.52. The stock has a market capitalization of $35.37 billion, a P/E ratio of 13.49, a PEG 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 quick ratio of 0.61 and a current ratio of 0.61.

State Street (NYSE:STT) last posted its quarterly earnings results 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 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%. State Street’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. Equities analysts forecast that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

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

Insider Activity at State Street

In related news, EVP John Plansky sold 16,100 shares of State Street stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. The trade was a 22.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STT. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Loop Capital set a $144.00 price objective on shares of State Street in a research note on Tuesday, January 6th. Finally, Truist Financial set a $136.00 price objective on State Street in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, State Street currently has a consensus rating of “Moderate Buy” and an average 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.