Korea Investment CORP Has $21.55 Million Stock Position in State Street Co. (NYSE:STT)

Korea Investment CORP lowered its stake in State Street Co. (NYSE:STT) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,552 shares of the asset manager’s stock after selling 7,119 shares during the quarter. Korea Investment CORP owned approximately 0.07% of State Street worth $21,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. FMR LLC raised its holdings in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares during the period. Townsquare Capital LLC acquired a new stake in State Street during the 3rd quarter valued at $351,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of State Street by 5.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 311,977 shares of the asset manager’s stock valued at $27,601,000 after purchasing an additional 16,996 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of State Street by 2.3% in the third quarter. Public Sector Pension Investment Board now owns 52,286 shares of the asset manager’s stock worth $4,626,000 after buying an additional 1,200 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of State Street by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,421,569 shares of the asset manager’s stock valued at $214,236,000 after buying an additional 23,252 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Citigroup decreased their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Finally, Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.53.

State Street Stock Performance

NYSE STT opened at $88.95 on Friday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. 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 cap of $25.66 billion, a P/E ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. The company’s 50-day simple moving average is $95.35 and its 200 day simple moving average is $94.48.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.