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

AEGON ASSET MANAGEMENT UK Plc increased its position in State Street Co. (NYSE:STT) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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’s holdings in State Street were worth $33,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Albion Financial Group UT purchased a new position in State Street in the 4th quarter valued at about $25,000. Coastline Trust Co acquired a new position in shares of State Street in the third quarter worth about $44,000. Friedenthal Financial purchased a new position in State Street in the fourth quarter valued at about $49,000. Capital Performance Advisors LLP acquired a new stake in State Street during the 3rd quarter valued at approximately $54,000. Finally, Versant Capital Management Inc increased its holdings in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STT. Truist Financial decreased 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. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, State Street has an average rating of “Hold” and an average price target of $100.73.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

State Street Stock Up 1.6 %

State Street stock opened at $99.09 on Friday. The firm has a market capitalization of $29.05 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a 50-day simple moving average of $98.00 and a 200-day simple moving average of $90.36. State Street Co. has a one year low of $70.20 and a one year high of $101.91. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

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

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.07%. State Street’s dividend payout ratio (DPR) 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.