Empirical Asset Management LLC Increases Holdings in State Street Co. (NYSE:STT)

Empirical Asset Management LLC raised its stake in State Street Co. (NYSE:STTFree Report) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,607 shares of the asset manager’s stock after acquiring an additional 459 shares during the period. Empirical Asset Management LLC’s holdings in State Street were worth $452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of STT. KBC Group NV increased its stake in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of State Street by 39.3% during the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after acquiring an additional 41,180 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in State Street by 118.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after acquiring an additional 23,171 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after acquiring an additional 20,968 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

Shares of STT opened at $97.51 on Friday. The business has a 50-day simple moving average of $97.72 and a two-hundred day simple moving average of $89.52. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STTGet Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. During the same period in the prior year, the firm posted $2.04 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that State Street Co. will post 8.45 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. State Street’s payout ratio is 48.03%.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on STT shares. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Truist Financial assumed coverage on shares of State Street in a report on Tuesday, January 7th. They set a “hold” rating and a $106.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.33.

Read Our Latest Stock Analysis on State Street

State Street Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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