CHICAGO TRUST Co NA Sells 363 Shares of State Street Co. (NYSE:STT)

CHICAGO TRUST Co NA cut its stake in State Street Co. (NYSE:STT) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,049 shares of the asset manager’s stock after selling 363 shares during the period. CHICAGO TRUST Co NA’s holdings in State Street were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of STT. Geode Capital Management LLC lifted its holdings in State Street by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after buying an additional 41,442 shares in the last quarter. FMR LLC boosted its holdings in State Street by 15.8% in 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 last quarter. Hotchkis & Wiley Capital Management LLC increased its position in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the period. Metropolis Capital Ltd raised its holdings in State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in 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 purchasing an additional 408,792 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock worth $2,499,860 over the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of a number of recent research reports. Morgan Stanley dropped their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Truist Financial began coverage on State Street in a research note on Tuesday, January 7th. They issued a “hold” rating and a $106.00 price target on the stock. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group increased their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $100.33.

State Street Price Performance

Shares of NYSE STT opened at $94.46 on Tuesday. The company has a fifty day moving average price of $97.46 and a 200 day moving average price of $89.05. The firm has a market cap of $27.69 billion, a PE ratio of 14.92, a PEG ratio of 1.24 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. State Street’s revenue for the quarter was up 21.1% compared to the same quarter last year. Research analysts predict that State Street Co. will post 8.42 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. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.22%. State Street’s dividend payout ratio is currently 48.03%.

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.