Generali Asset Management SPA SGR Buys 11,768 Shares of State Street Corporation $STT

Generali Asset Management SPA SGR grew its stake in State Street Corporation (NYSE:STT) by 78.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,712 shares of the asset manager’s stock after buying an additional 11,768 shares during the period. Generali Asset Management SPA SGR’s holdings in State Street were worth $3,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STT. Chicago Partners Investment Group LLC lifted its holdings in shares of State Street by 1.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock worth $675,000 after acquiring an additional 83 shares during the last quarter. Wedmont Private Capital raised its position in State Street by 1.3% during the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock valued at $861,000 after purchasing an additional 85 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 94 shares in the last quarter. LVW Advisors LLC lifted its stake in State Street by 1.7% during the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock worth $723,000 after purchasing an additional 96 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of State Street by 7.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of a number of research reports. Argus raised their price objective on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Truist Financial lifted their price target on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, April 20th. Citigroup upped their price objective on shares of State Street from $150.00 to $172.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 target price on the stock in a report on Monday, April 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.57.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares of the company’s stock, valued at $6,982,059.84. This represents a 22.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael L. Richards sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the executive vice president owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 28,711 shares of company stock worth $3,933,032. Company insiders own 0.27% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $149.39 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. State Street Corporation has a fifty-two week low of $93.69 and a fifty-two week high of $156.18. The firm has a market cap of $41.35 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The business has a 50 day moving average price of $134.10 and a 200-day moving average price of $128.11.

State Street (NYSE:STT) last issued its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping the consensus estimate of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 earnings per share. Equities research analysts predict that State Street Corporation will post 12.31 earnings per share for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 1st. State Street’s dividend payout ratio is 34.08%.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.