Cobblestone Capital Advisors LLC NY Sells 555 Shares of State Street Co. (NYSE:STT)

Cobblestone Capital Advisors LLC NY lessened its holdings in State Street Co. (NYSE:STT) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,345 shares of the asset manager’s stock after selling 555 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in State Street were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in State Street by 0.6% during the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after buying an additional 41,442 shares during the period. FMR LLC grew its position in 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 buying an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. Franklin Resources Inc. grew its position in shares of State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of State Street by 1.0% during the 3rd 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 acquiring an additional 23,252 shares during the period. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

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

State Street Stock Up 2.0 %

Shares of NYSE:STT opened at $99.45 on Friday. The firm has a fifty day moving average price of $98.59 and a two-hundred day moving average price of $93.61. The company has a market cap of $28.69 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.11 and a beta of 1.43. 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 Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business posted $2.04 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s payout ratio is currently 36.89%.

Analyst Ratings Changes

A number of research firms have recently weighed in on STT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays increased their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial cut their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.73.

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.