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

Royal London Asset Management Ltd. increased its holdings in State Street Co. (NYSE:STT) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 125,596 shares of the asset manager’s stock after buying an additional 1,106 shares during the period. Royal London Asset Management Ltd.’s holdings in State Street were worth $12,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. OneDigital Investment Advisors LLC acquired a new stake in shares of State Street in the third quarter valued at approximately $270,000. Empowered Funds LLC raised its position in shares of State Street by 11.4% in the third quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager’s stock valued at $432,000 after buying an additional 504 shares in the last quarter. Pathstone Holdings LLC raised its position in shares of State Street by 1.2% in the third quarter. Pathstone Holdings LLC now owns 74,575 shares of the asset manager’s stock valued at $6,598,000 after buying an additional 856 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of State Street by 9.4% in the third quarter. Advisors Asset Management Inc. now owns 24,696 shares of the asset manager’s stock valued at $2,185,000 after buying an additional 2,124 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of State Street by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock valued at $512,000 after buying an additional 184 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE STT opened at $90.63 on Friday. The firm’s fifty day moving average price is $95.93 and its two-hundred day moving average price is $94.22. The stock has a market cap of $26.14 billion, a PE ratio of 11.00, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a fifty-two week low of $70.20 and a fifty-two 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.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the firm posted $2.04 earnings per share. State Street’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on STT. Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Wells Fargo & Company boosted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.20.

Insider Buying and Selling

In related news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by 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.