Invesco Ltd. Buys 406,396 Shares of State Street Co. (NYSE:STT)

Invesco Ltd. raised its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,510,570 shares of the asset manager's stock after acquiring an additional 406,396 shares during the quarter. Invesco Ltd. owned about 2.56% of State Street worth $737,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in STT. IHT Wealth Management LLC purchased a new stake in State Street during the 3rd quarter worth about $364,000. Wellington Management Group LLP increased its position in shares of State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after buying an additional 462,201 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of State Street in the third quarter worth about $4,315,000. EP Wealth Advisors LLC bought a new position in shares of State Street in the third quarter valued at approximately $308,000. Finally, iSAM Funds UK Ltd purchased a new position in State Street during the third quarter valued at approximately $271,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a report on Friday, December 20th. Truist Financial dropped their price objective on State Street from $104.00 to $89.00 and set a "hold" rating for the company in a research note on Friday, April 4th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, State Street currently has a consensus rating of "Hold" and an average target price of $102.43.

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State Street Trading Up 0.5 %

Shares of STT stock traded up $0.41 on Friday, hitting $79.41. 2,338,352 shares of the company's stock traded hands, compared to its average volume of 2,180,226. 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 has a market capitalization of $22.92 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 1.11 and a beta of 1.42. The company's fifty day simple moving average is $91.04 and its 200 day simple moving average is $94.03. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same period last year, the firm earned $2.04 earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.83%. State Street's payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In other State Street news, 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 value of $1,081,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % 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.

About State Street

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.