KBC Group NV Acquires 17,804 Shares of State Street Co. (NYSE:STT)

KBC Group NV raised its holdings in State Street Co. (NYSE:STT) by 23.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,484 shares of the asset manager’s stock after acquiring an additional 17,804 shares during the quarter. KBC Group NV’s holdings in State Street were worth $9,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT acquired a new stake in State Street in the 4th quarter valued at about $25,000. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter valued at about $44,000. Friedenthal Financial acquired a new stake in State Street in the fourth quarter valued at $49,000. Capital Performance Advisors LLP acquired a new position in shares of State Street in the 3rd quarter worth approximately $54,000. Finally, Versant Capital Management Inc boosted its position in shares of State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 197 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial cut their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average target price of $100.73.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

State Street Trading Up 0.5 %

NYSE:STT opened at $100.90 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $29.58 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a 52 week low of $70.20 and a 52 week high of $102.63. The firm has a 50 day moving average of $98.20 and a 200 day moving average of $90.90.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.01%. State Street’s payout ratio is presently 36.89%.

State Street 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.