State Street Co. (NYSE:STT) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank boosted its position in State Street Co. (NYSE:STT - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 162,126 shares of the asset manager's stock after purchasing an additional 6,907 shares during the quarter. Toronto Dominion Bank owned about 0.06% of State Street worth $15,912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of State Street in the fourth quarter worth about $272,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock valued at $44,725,000 after acquiring an additional 14,476 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock worth $184,025,000 after purchasing an additional 10,404 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after purchasing an additional 7,446 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of State Street in the fourth quarter valued at approximately $395,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

State Street Stock Down 0.0%

Shares of NYSE STT opened at $98.25 on Tuesday. 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 business's 50 day moving average is $87.47 and its two-hundred day moving average is $93.86. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) 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 firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the business earned $1.69 EPS. Research analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.09%. State Street's dividend payout ratio is presently 34.12%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STT. Wells Fargo & Company lowered their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Truist Financial lowered their price target on shares of State Street from $89.00 to $85.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Citigroup dropped their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Bank of America lifted their target price on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Finally, Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of "Hold" and an average target price of $102.15.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.