Metropolis Capital Ltd Has $403.80 Million Position in State Street Co. (NYSE:STT)

Metropolis Capital Ltd reduced its stake in State Street Co. (NYSE:STT) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,114,063 shares of the asset manager’s stock after selling 172,243 shares during the quarter. State Street comprises 14.2% of Metropolis Capital Ltd’s holdings, making the stock its largest position. Metropolis Capital Ltd’s holdings in State Street were worth $403,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of STT. Albion Financial Group UT acquired a new stake in State Street in the 4th quarter worth about $25,000. Coastline Trust Co acquired a new stake in shares of State Street in the third quarter valued at approximately $44,000. Friedenthal Financial bought a new stake in shares of State Street in the fourth quarter valued at approximately $49,000. Capital Performance Advisors LLP acquired a new stake in State Street during the third quarter worth approximately $54,000. Finally, Versant Capital Management Inc increased its stake in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after acquiring an additional 197 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STT. Wells Fargo & Company increased their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday. Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.73.

State Street Stock Performance

NYSE:STT opened at $97.58 on Friday. The stock’s 50-day moving average is $97.86 and its 200-day moving average is $90.13. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market cap of $28.61 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3,267,560 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 EPS. Equities research analysts anticipate that State Street Co. will post 9.43 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

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.