13,250 Shares in State Street Co. (NYSE:STT) Bought by ING Groep NV

ING Groep NV purchased a new stake in State Street Co. (NYSE:STT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,250 shares of the asset manager’s stock, valued at approximately $1,300,000.

Several other hedge funds have also bought and sold shares of STT. Albion Financial Group UT purchased a new stake in shares of State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter worth approximately $44,000. Friedenthal Financial bought a new position in shares of State Street during the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of State Street in the third quarter valued at $54,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents 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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STT. Barclays upped their price target 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 report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Trading Down 0.9 %

Shares of State Street stock opened at $98.74 on Monday. The firm’s 50-day moving average price is $98.55 and its 200 day moving average price is $93.02. The firm has a market capitalization of $28.48 billion, a PE ratio of 11.98, a P/E/G 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 Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

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, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company posted $2.04 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

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 issued a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. State Street’s dividend payout ratio is currently 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.