Royal London Asset Management Ltd. Has $12.33 Million Stock Position in State Street Co. (NYSE:STT)

Royal London Asset Management Ltd. grew its stake in State Street Co. (NYSE:STT) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,596 shares of the asset manager’s stock after purchasing an additional 1,106 shares during the quarter. Royal London Asset Management Ltd.’s holdings in State Street were worth $12,327,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Albion Financial Group UT acquired a new stake in State Street during the 4th quarter worth $25,000. Y.D. More Investments Ltd raised its stake in 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 period. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the 4th quarter worth $42,000. Friedenthal Financial acquired a new stake in State Street during the 4th quarter worth $49,000. Finally, Hager Investment Management Services LLC acquired a new stake in State Street during the 4th quarter worth $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Up 0.1 %

State Street stock opened at $90.63 on Friday. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $26.14 billion, a P/E ratio of 11.00, a PEG ratio of 1.11 and a beta of 1.44. The stock has a 50-day simple moving average of $95.93 and a 200 day simple moving average of $94.22.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS 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 business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the company posted $2.04 earnings per share. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Analysts Set New Price Targets

Several research firms have issued reports on STT. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Truist Financial dropped their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.20.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

State Street 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.