Plato Investment Management Ltd Increases Stake in State Street Co. (NYSE:STT)

Plato Investment Management Ltd increased its holdings in State Street Co. (NYSE:STT) by 8.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,480 shares of the asset manager’s stock after purchasing an additional 2,466 shares during the period. Plato Investment Management Ltd’s holdings in State Street were worth $3,002,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Adero Partners LLC increased its stake in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after acquiring an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in shares of State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after acquiring an additional 121 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after acquiring an additional 138 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

State Street Trading Up 2.0 %

Shares of NYSE:STT opened at $99.45 on Monday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a market capitalization of $28.69 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.11 and a beta of 1.43. 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 stock’s 50-day simple moving average is $98.59 and its two-hundred day simple moving average is $93.71.

State Street (NYSE:STT) last posted 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 net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $2.04 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Thursday. 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 note on Friday, December 20th. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Truist Financial reduced their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.73.

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.