AEGON ASSET MANAGEMENT UK Plc Buys 8,093 Shares of State Street Co. (NYSE:STT)

AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,054 shares of the asset manager's stock after buying an additional 8,093 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.12% of State Street worth $31,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. boosted its stake in State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after acquiring an additional 406,396 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of State Street by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock worth $704,238,000 after purchasing an additional 24,617 shares during the period. FMR LLC raised its holdings in shares of State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after purchasing an additional 870,849 shares during the period. 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 purchasing an additional 561,773 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in State Street by 15.7% during the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after purchasing an additional 563,790 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

STT stock traded down $0.93 during mid-day trading on Wednesday, hitting $96.08. 1,068,624 shares of the stock were exchanged, compared to its average volume of 2,126,080. The business has a fifty day moving average price of $88.96 and a 200 day moving average price of $94.00. The stock has a market capitalization of $27.40 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.11 and a beta of 1.45. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same period in the prior year, the business posted $1.69 EPS. On average, sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.16%. State Street's dividend payout ratio (DPR) is 34.12%.

Wall Street Analysts Forecast Growth

STT has been the topic of several research reports. Truist Financial upgraded State Street from a "hold" rating to a "buy" rating and boosted their target price for the company from $85.00 to $112.00 in a research note on Wednesday, May 28th. Bank of America boosted their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $102.54.

Insiders Place Their Bets

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% 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.