Schroder Investment Management Group Boosts Holdings in State Street Co. (NYSE:STT)

Schroder Investment Management Group boosted its stake in shares of State Street Co. (NYSE:STT - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,225 shares of the asset manager's stock after acquiring an additional 6,473 shares during the period. Schroder Investment Management Group owned 0.06% of State Street worth $17,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz SE acquired a new stake in shares of State Street during the 4th quarter worth approximately $1,776,000. Allstate Corp acquired a new stake in shares of State Street in the 4th quarter valued at $832,000. DnB Asset Management AS increased its stake in shares of State Street by 10.2% in the 4th quarter. DnB Asset Management AS now owns 279,307 shares of the asset manager's stock valued at $27,414,000 after purchasing an additional 25,753 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of State Street by 13.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 189,098 shares of the asset manager's stock worth $18,560,000 after buying an additional 22,123 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of State Street during the 4th quarter worth $161,021,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 sale, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

State Street Trading Down 1.7 %

Shares of STT stock traded down $1.29 during trading hours on Tuesday, hitting $75.01. 3,052,596 shares of the company were exchanged, compared to its average volume of 2,190,936. 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 fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a 50 day simple moving average of $92.58 and a two-hundred day simple moving average of $94.25. The firm has a market cap of $21.64 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.11 and a beta of 1.42.

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 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 company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. State Street's revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced 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. This represents a $3.04 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is presently 36.89%.

Analyst Ratings Changes

Several research analysts have commented on STT shares. Evercore ISI lowered their target price on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Barclays increased their price objective on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Bank of America raised their target price on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a research note on Friday, December 20th. Finally, Truist Financial lowered their target price on State Street from $104.00 to $89.00 and set a "hold" rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $101.07.

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.