Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in State Street Co. (NYSE:STT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of State Street Co. (NYSE:STT) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,073 shares of the asset manager’s stock after buying an additional 656 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in State Street were worth $3,148,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Adero Partners LLC raised its position in State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in shares of State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 103 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock worth $282,000 after buying an additional 180 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in State Street by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock worth $512,000 after buying an additional 184 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STT has been the topic of several research reports. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company raised their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price of $100.73.

State Street Stock Down 0.2 %

Shares of STT stock opened at $99.44 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market cap of $29.15 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a 50 day simple moving average of $98.53 and a two-hundred day simple moving average of $91.76.

State Street (NYSE:STT) 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 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 company posted $2.04 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that State Street Co. will post 9.6 earnings per share for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s payout ratio is 36.89%.

Insider Activity at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on 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 sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate 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.