Woodstock Corp Lowers Holdings in State Street Co. (NYSE:STT)

Woodstock Corp trimmed its holdings in State Street Co. (NYSE:STT) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,045 shares of the asset manager’s stock after selling 1,613 shares during the quarter. Woodstock Corp’s holdings in State Street were worth $8,153,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of STT. Bronte Capital Management Pty Ltd. purchased a new stake in State Street in the third quarter valued at $15,963,000. Morgan Stanley raised its position in shares of State Street by 64.7% in the third quarter. Morgan Stanley now owns 1,229,882 shares of the asset manager’s stock worth $72,968,000 after acquiring an additional 482,997 shares during the period. State of Tennessee Treasury Department raised its position in shares of State Street by 44.7% in the third quarter. State of Tennessee Treasury Department now owns 158,020 shares of the asset manager’s stock worth $9,376,000 after acquiring an additional 48,797 shares during the period. Lombard Odier Asset Management Switzerland SA raised its position in shares of State Street by 60.5% in the third quarter. Lombard Odier Asset Management Switzerland SA now owns 24,605 shares of the asset manager’s stock worth $1,460,000 after acquiring an additional 9,275 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd acquired a new position in shares of State Street in the third quarter worth about $239,000. 91.77% of the stock is currently owned by institutional investors.

In related news, EVP Michael L. Richards sold 365 shares of the stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $74.61, for a total value of $27,232.65. Following the completion of the transaction, the executive vice president now directly owns 24,420 shares in the company, valued at $1,821,976.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael L. Richards sold 533 shares of the firm’s stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $74.39, for a total value of $39,649.87. Following the sale, the executive vice president now directly owns 17,315 shares of the company’s stock, valued at approximately $1,288,062.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,898 shares of company stock valued at $873,183. 0.28% of the stock is owned by corporate insiders.

STT has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. Barclays upped their price objective on shares of State Street from $99.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group downgraded shares of State Street from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $75.00 in a research report on Tuesday, January 5th. Piper Sandler upped their price objective on shares of State Street from $69.00 to $81.00 and gave the stock a “neutral” rating in a research report on Monday, January 11th. Finally, Credit Suisse Group upped their price target on shares of State Street from $78.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. State Street presently has a consensus rating of “Hold” and a consensus price target of $81.27.

NYSE STT traded down $0.38 during trading hours on Thursday, hitting $84.36. 5,240 shares of the company’s stock traded hands, compared to its average volume of 2,950,698. State Street Co. has a 52-week low of $51.21 and a 52-week high of $87.89. The company has a market capitalization of $29.68 billion, a PE ratio of 12.72, a PEG ratio of 1.11 and a beta of 1.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.50 and a quick ratio of 0.50. The firm’s 50-day moving average is $80.49 and its 200-day moving average is $72.10.

State Street (NYSE:STT) last announced its quarterly earnings data on Monday, January 18th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.13. State Street had a net margin of 20.75% and a return on equity of 12.24%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company earned $1.98 EPS. State Street’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that State Street Co. will post 6.58 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 12th. Investors of record on Thursday, April 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $2.08 annualized dividend and a yield of 2.47%. State Street’s dividend payout ratio is presently 33.71%.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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