Toronto Dominion Bank Has $15.91 Million Stock Holdings in State Street Co. (NYSE:STT)

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

Other large investors also recently made changes to their positions in the company. Invst LLC boosted its stake in State Street by 1.8% during the 4th quarter. Invst LLC now owns 11,582 shares of the asset manager’s stock valued at $1,137,000 after purchasing an additional 206 shares during the last quarter. Neo Ivy Capital Management acquired a new position in State Street during the 4th quarter valued at about $3,361,000. GTS Securities LLC boosted its stake in State Street by 123.6% during the 4th quarter. GTS Securities LLC now owns 2,750 shares of the asset manager’s stock valued at $270,000 after purchasing an additional 14,381 shares during the last quarter. Vise Technologies Inc. acquired a new position in State Street during the 4th quarter valued at about $307,000. Finally, Principal Street Partners LLC boosted its stake in State Street by 0.4% during the 4th quarter. Principal Street Partners LLC now owns 70,165 shares of the asset manager’s stock valued at $6,887,000 after purchasing an additional 260 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value 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 approximately $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on STT. Truist Financial cut their price target on State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Bank of America lifted 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. Keefe, Bruyette & Woods cut their price target on State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, 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 report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $102.15.

State Street Trading Up 1.3%

NYSE:STT opened at $97.35 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $27.76 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm’s 50 day moving average is $88.50 and its 200 day moving average is $93.95. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last posted its quarterly 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 company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the previous year, the firm posted $1.69 EPS. Sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street’s dividend payout ratio (DPR) is presently 34.12%.

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.