Toronto Dominion Bank Raises Holdings in State Street Co. (NYSE:STT)

Toronto Dominion Bank increased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,126 shares of the asset manager's stock after buying an additional 6,907 shares during the quarter. Toronto Dominion Bank owned 0.06% of State Street worth $15,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in State Street by 5.7% during the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock worth $737,162,000 after buying an additional 406,396 shares during the last quarter. Geode Capital Management LLC grew its stake in State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock worth $704,238,000 after buying an additional 24,617 shares during the last quarter. FMR LLC grew its stake in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after buying an additional 870,849 shares during the last quarter. Amundi grew its stake in State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after buying an additional 561,773 shares during the last quarter. Finally, Northern Trust Corp grew its stake in State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after buying an additional 563,790 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction that occurred 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 $667,154.88. This 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 this hyperlink. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on STT shares. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their price target on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Bank of America boosted their price target on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Truist Financial dropped their price target on State Street from $89.00 to $85.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $102.15.

State Street Stock Performance

Shares of STT traded down $0.18 during mid-day trading on Friday, reaching $96.18. The company had a trading volume of 1,116,330 shares, compared to its average volume of 2,135,513. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. 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 stock has a market capitalization of $27.43 billion, a P/E ratio of 11.67, a PEG ratio of 1.11 and a beta of 1.42. The stock has a 50 day moving average of $88.24 and a two-hundred day moving average of $93.92.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the prior year, the business earned $1.69 earnings per share. On average, 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, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.16%. State Street's payout ratio is 34.12%.

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.