AEGON ASSET MANAGEMENT UK Plc Boosts Stock Holdings in State Street Co. (NYSE:STT)

AEGON ASSET MANAGEMENT UK Plc raised its holdings in State Street Co. (NYSE:STT) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,961 shares of the asset manager’s stock after purchasing an additional 25,802 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 0.12% of State Street worth $33,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC grew its holdings in State Street by 30.4% during 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 acquiring an additional 1,354,560 shares during the period. FMR LLC grew its stake in shares of State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. Wellington Management Group LLP increased its holdings in shares of State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after purchasing an additional 462,201 shares in the last quarter. National Bank of Canada FI boosted its holdings in State Street by 99.4% during the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after buying an additional 442,725 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after buying an additional 408,792 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’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. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their price target 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 lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Stock Performance

State Street stock opened at $99.09 on Friday. The stock has a fifty day moving average price of $98.00 and a 200 day moving average price of $90.36. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The firm has a market capitalization of $29.05 billion, a P/E ratio of 12.03, a PEG ratio of 1.11 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 1.03.

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

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued 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 3.07%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.