Northwest & Ethical Investments L.P. Acquires 13,838 Shares of State Street Co. (NYSE:STT)

Northwest & Ethical Investments L.P. increased its holdings in State Street Co. (NYSE:STT - Free Report) by 141.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Magnetar Financial LLC lifted its position in shares of State Street by 77.0% during the 4th quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager's stock valued at $409,000 after acquiring an additional 1,813 shares during the last quarter. Teacher Retirement System of Texas raised its position 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 purchasing an additional 216,583 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of State Street by 0.9% during 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 boosted its position in shares of State Street by 512.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 11,695 shares of the asset manager's stock valued at $1,148,000 after purchasing an additional 9,787 shares during the period. Finally, Vinva Investment Management Ltd increased its stake in State Street by 98.2% in 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 in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of 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 objective for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft restated 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. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Truist Financial cut their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Morgan Stanley decreased their target price on State Street from $142.00 to $139.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $101.87.

Insider Buying and Selling at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

State Street Stock Down 0.4 %

Shares of State Street stock traded down $0.39 during trading on Tuesday, hitting $92.47. 1,827,932 shares of the stock traded hands, compared to its average volume of 2,060,706. The stock has a market cap of $26.67 billion, a P/E ratio of 11.22, a PEG ratio of 1.11 and a beta of 1.44. The company has a fifty day moving average price of $95.90 and a two-hundred day moving average price of $94.33. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. 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 - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping 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 company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's payout ratio is 36.89%.

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.