Northwest & Ethical Investments L.P. Has $2.32 Million Holdings in State Street Co. (NYSE:STT)

Northwest & Ethical Investments L.P. lifted its holdings in shares of State Street Co. (NYSE:STT) by 141.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,590 shares of the asset manager’s stock after buying 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.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in State Street by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after acquiring an additional 41,442 shares during the period. FMR LLC grew its stake in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. Amundi lifted its stake in State Street by 11.1% in the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after buying an additional 561,773 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after buying an additional 408,792 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Finally, Truist Financial lowered their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.20.

State Street Price Performance

NYSE STT opened at $90.49 on Friday. The firm’s 50 day moving average is $96.00 and its 200-day moving average is $94.14. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $26.10 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

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 net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business earned $2.04 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.36%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the 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 completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The transaction 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 business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.