Eukles Asset Management Has $2.97 Million Stock Holdings in State Street Co. (NYSE:STT)

Eukles Asset Management reduced its stake in shares of State Street Co. (NYSE:STT) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,247 shares of the asset manager’s stock after selling 1,463 shares during the quarter. State Street accounts for 1.3% of Eukles Asset Management’s holdings, making the stock its 27th biggest holding. Eukles Asset Management’s holdings in State Street were worth $2,969,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Albion Financial Group UT acquired a new stake in State Street during the fourth quarter worth about $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Coastline Trust Co bought a new position in State Street in the third quarter valued at approximately $44,000. Friedenthal Financial acquired a new position in State Street during the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new stake in State Street during the third quarter worth $54,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction 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 $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

State Street Stock Down 0.2 %

Shares of NYSE:STT opened at $99.44 on Monday. The firm has a market cap of $29.15 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The business has a fifty day simple moving average of $98.53 and a 200 day simple moving average of $91.76. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

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 during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the company earned $2.04 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts predict that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Truist Financial reduced their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Finally, Morgan Stanley dropped their price objective 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price of $100.73.

State Street 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.