State Street Co. (NYSE:STT) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in shares of State Street Co. (NYSE:STT) by 14.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,601 shares of the asset manager’s stock after selling 28,728 shares during the quarter. Truist Financial Corp owned about 0.06% of State Street worth $13,370,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. HBK Sorce Advisory LLC grew its position in shares of State Street by 0.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager’s stock valued at $1,348,000 after buying an additional 151 shares during the last quarter. Syon Capital LLC grew its holdings in shares of State Street by 3.7% during the fourth quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 168 shares during the last quarter. Cardinal Capital Management raised its position in shares of State Street by 0.4% during the 4th quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager’s stock worth $3,822,000 after purchasing an additional 174 shares during the period. Mathes Company Inc. raised its position in shares of State Street by 0.5% during the 3rd quarter. Mathes Company Inc. now owns 32,550 shares of the asset manager’s stock worth $2,180,000 after purchasing an additional 175 shares during the period. Finally, Lido Advisors LLC lifted its holdings in shares of State Street by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and upped their price target for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Evercore ISI lifted their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada upped their target price on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Bank of America restated an “underperform” rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.04.

State Street Stock Performance

STT opened at $73.11 on Thursday. The business has a 50 day moving average price of $74.23 and a two-hundred day moving average price of $72.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.52. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.78%. State Street’s dividend payout ratio is currently 51.69%.

Insider Activity at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 over the last 90 days. 0.31% of the stock is currently owned by corporate 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.