Wilkins Investment Counsel Inc. Has $1.43 Million Stock Holdings in State Street Co. (NYSE:STT)

Wilkins Investment Counsel Inc. lessened its holdings in State Street Co. (NYSE:STT) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,550 shares of the asset manager’s stock after selling 400 shares during the quarter. Wilkins Investment Counsel Inc.’s holdings in State Street were worth $1,428,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Magnetar Financial LLC increased its holdings in shares of State Street by 77.0% during the fourth quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager’s stock worth $409,000 after buying an additional 1,813 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of State Street by 102.3% during the fourth quarter. Teacher Retirement System of Texas now owns 428,383 shares of the asset manager’s stock worth $42,046,000 after buying an additional 216,583 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of State Street by 0.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 125,596 shares of the asset manager’s stock worth $12,327,000 after buying an additional 1,106 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of State Street by 512.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 11,695 shares of the asset manager’s stock worth $1,148,000 after buying an additional 9,787 shares in the last quarter. Finally, Vinva Investment Management Ltd increased its holdings in shares of State Street by 98.2% during the fourth quarter. Vinva Investment Management Ltd now owns 229,990 shares of the asset manager’s stock worth $22,603,000 after buying an additional 113,955 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

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

State Street Price Performance

Shares of STT stock opened at $90.33 on Thursday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a market cap of $26.06 billion, a PE ratio of 10.96, a PEG ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50 day moving average price is $96.14 and its two-hundred day moving average price is $94.16.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. As a group, analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.37%. State Street’s dividend payout ratio is 36.89%.

Analysts Set New Price Targets

STT has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Truist Financial decreased 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.20.

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.