Northwest & Ethical Investments L.P. Has $2.32 Million Stock Holdings in State Street Co. (NYSE:STT)

Northwest & Ethical Investments L.P. boosted its stake in shares of State Street Co. (NYSE:STT) by 141.9% in the fourth quarter, HoldingsChannel reports. The firm owned 23,590 shares of the asset manager’s stock after purchasing an additional 13,838 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in State Street were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of STT. Magnetar Financial LLC grew its stake in State Street by 77.0% in the 4th quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager’s stock valued at $409,000 after buying an additional 1,813 shares during the last quarter. Teacher Retirement System of Texas boosted 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 acquiring an additional 216,583 shares during the period. Royal London Asset Management Ltd. grew its position in shares of State Street by 0.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 125,596 shares of the asset manager’s stock valued at $12,327,000 after purchasing an additional 1,106 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake 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 purchasing an additional 9,787 shares during the period. Finally, Vinva Investment Management Ltd lifted its holdings in State Street by 98.2% during the 4th quarter. Vinva Investment Management Ltd now owns 229,990 shares of the asset manager’s stock worth $22,603,000 after purchasing an additional 113,955 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value 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. This represents 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 stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

STT has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Truist Financial cut their price target on 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.20.

State Street Stock Up 0.3 %

STT stock opened at $90.49 on Friday. The stock has a market capitalization of $26.10 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $96.00 and a 200-day moving average price of $94.14. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

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

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.36%. State Street’s payout ratio is presently 36.89%.

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.