NEOS Investment Management LLC Has $1.59 Million Stake in State Street Co. (NYSE:STT)

NEOS Investment Management LLC lifted its holdings in shares of State Street Co. (NYSE:STT) by 29.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,273 shares of the asset manager’s stock after acquiring an additional 3,728 shares during the quarter. NEOS Investment Management LLC’s holdings in State Street were worth $1,585,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Albion Financial Group UT bought a new position in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its stake in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street during the 4th quarter worth about $42,000. Friedenthal Financial bought a new stake in shares of State Street during the 4th quarter worth about $49,000. Finally, Hager Investment Management Services LLC acquired a new position in State Street in the 4th quarter valued at about $56,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on 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 directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on 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 of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $88.95 on Friday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.11 and a beta of 1.44. 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 firm’s 50 day simple moving average is $95.35 and its 200 day simple moving average is $94.48.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company posted $2.04 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

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 paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STT. Truist Financial cut their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley dropped their price target on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Citigroup decreased their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $101.53.

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.