Avanza Fonder AB Takes $2.04 Million Position in State Street Co. (NYSE:STT)

Avanza Fonder AB bought a new stake in shares of State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,796 shares of the asset manager's stock, valued at approximately $2,041,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Vanguard Personalized Indexing Management LLC raised its stake in State Street by 10.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,774 shares of the asset manager's stock valued at $2,573,000 after purchasing an additional 3,230 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager's stock worth $186,000 after acquiring an additional 129 shares during the last quarter. Bridges Investment Management Inc. increased its stake in State Street by 407.7% in the 2nd quarter. Bridges Investment Management Inc. now owns 36,679 shares of the asset manager's stock worth $2,714,000 after acquiring an additional 29,454 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in State Street by 152.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 150,022 shares of the asset manager's stock worth $11,102,000 after acquiring an additional 90,500 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in State Street by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager's stock worth $1,549,000 after acquiring an additional 922 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STT. The Goldman Sachs Group lifted their price objective on State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research report on Friday. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Truist Financial initiated coverage on State Street in a research report on Tuesday, January 7th. They set a "hold" rating and a $106.00 target price on the stock. Finally, Evercore ISI boosted their target price on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $100.33.

State Street Stock Down 3.0 %

Shares of STT stock traded down $2.98 during mid-day trading on Friday, hitting $97.51. The stock had a trading volume of 4,204,955 shares, compared to its average volume of 1,658,874. State Street Co. has a 12-month low of $70.20 and a 12-month high of $101.91. The firm has a market capitalization of $28.58 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The firm's 50-day moving average is $97.72 and its two-hundred day moving average is $89.63. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3,267,560 billion. During the same period in the prior year, the business earned $2.04 EPS. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts predict that State Street Co. will post 8.45 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio (DPR) is currently 48.03%.

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.