Rafferty Asset Management LLC Buys 2,176 Shares of State Street Co. (NYSE:STT)

Rafferty Asset Management LLC lifted its holdings in State Street Co. (NYSE:STT) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,417 shares of the asset manager’s stock after purchasing an additional 2,176 shares during the quarter. Rafferty Asset Management LLC’s holdings in State Street were worth $10,150,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Albion Financial Group UT bought a new stake in shares of State Street in the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its position in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the fourth quarter worth $42,000. Coppell Advisory Solutions LLC lifted its position in shares of State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after purchasing an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $98.23 on Friday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a market cap of $28.01 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.42. The firm’s fifty day moving average price is $87.22 and its two-hundred day moving average price is $93.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the company earned $1.69 earnings per share. Equities analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.09%. State Street’s dividend payout ratio is currently 34.12%.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,820 shares of company stock worth $1,567,972 over the last ninety days. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial lowered their target price on shares of State Street from $89.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 21st. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company lowered their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, Barclays lowered their target price on shares of State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.15.

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.