AEGON ASSET MANAGEMENT UK Plc Boosts Holdings in State Street Co. (NYSE:STT)

AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 347,054 shares of the asset manager's stock after acquiring an additional 8,093 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.12% of State Street worth $31,079,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. Whipplewood Advisors LLC increased its holdings in State Street by 3,431.8% in the 1st quarter. Whipplewood Advisors LLC now owns 22,003 shares of the asset manager's stock valued at $1,970,000 after buying an additional 21,380 shares during the period. Merit Financial Group LLC boosted its position in State Street by 45.3% during the 1st quarter. Merit Financial Group LLC now owns 5,846 shares of the asset manager's stock worth $523,000 after buying an additional 1,822 shares during the period. Czech National Bank lifted its position in shares of State Street by 4.2% in the 1st quarter. Czech National Bank now owns 66,256 shares of the asset manager's stock worth $5,932,000 after purchasing an additional 2,695 shares during the period. Rhumbline Advisers lifted its position in shares of State Street by 3.7% in the 1st quarter. Rhumbline Advisers now owns 563,846 shares of the asset manager's stock worth $50,481,000 after purchasing an additional 20,212 shares during the period. Finally, Allied Investment Advisors LLC lifted its position in shares of State Street by 3.3% in the 1st quarter. Allied Investment Advisors LLC now owns 121,128 shares of the asset manager's stock worth $10,845,000 after purchasing an additional 3,911 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Up 2.2%

Shares of State Street stock traded up $2.15 on Friday, hitting $98.63. The stock had a trading volume of 880,575 shares, compared to its average volume of 2,121,500. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.11 and a beta of 1.45. The stock's 50-day simple moving average is $89.43 and its two-hundred day simple moving average is $94.04.

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 (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter last year, the business earned $1.69 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, July 1st. State Street's dividend payout ratio (DPR) is currently 34.12%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Morgan Stanley set a $110.00 target price on shares of State Street and gave the stock an "overweight" rating in a research note on Tuesday. Barclays dropped their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Cfra Research downgraded shares of State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $102.54.

Insider Activity at State Street

In other State Street 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 owns 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company 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.