State Street Co. (NYSE:STT) Shares Bought by PGGM Investments

PGGM Investments lifted its position in shares of State Street Co. (NYSE:STT - Free Report) by 230.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,964 shares of the asset manager's stock after purchasing an additional 52,308 shares during the period. PGGM Investments' holdings in State Street were worth $7,358,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Adero Partners LLC lifted its position in shares of State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock worth $285,000 after purchasing an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after purchasing an additional 103 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after purchasing an additional 121 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after purchasing an additional 131 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after purchasing an additional 138 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

Several analysts recently issued reports on STT shares. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and upped their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. 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 report on Monday, January 6th. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. One 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 stock. According to data from MarketBeat, State Street presently has an average rating of "Hold" and a consensus target price of $101.20.

State Street Stock Performance

Shares of State Street stock traded up $0.23 during trading on Tuesday, hitting $88.04. 1,694,759 shares of the stock were exchanged, compared to its average volume of 2,067,619. The stock's fifty day moving average is $96.48 and its 200 day moving average is $94.18. The stock has a market cap of $25.40 billion, a PE ratio of 10.68, a P/E/G ratio of 1.11 and a beta of 1.44. 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 Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT - Get Free Report) last released its quarterly 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. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

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 given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.45%. State Street's dividend payout ratio is currently 36.89%.

Insider Activity at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the 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 completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 50,816 shares of the company's stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.