NEOS Investment Management LLC Grows Stock Holdings in State Street Co. (NYSE:STT)

NEOS Investment Management LLC raised its position in shares of State Street Co. (NYSE:STTFree Report) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,375 shares of the asset manager’s stock after buying an additional 647 shares during the quarter. NEOS Investment Management LLC’s holdings in State Street were worth $339,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of State Street during the fourth quarter valued at about $27,000. Venturi Wealth Management LLC lifted its position in shares of State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street during the fourth quarter valued at about $35,000. Bruce G. Allen Investments LLC purchased a new stake in shares of State Street during the fourth quarter valued at about $51,000. Finally, GAMMA Investing LLC purchased a new stake in shares of State Street during the fourth quarter valued at about $75,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STT has been the subject of several research analyst reports. UBS Group increased their price objective on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Morgan Stanley increased their price objective on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI increased their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Argus increased their price objective on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $84.04.

View Our Latest Research Report on STT

State Street Price Performance

Shares of NYSE STT opened at $74.48 on Thursday. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.28 and a beta of 1.47. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm’s 50 day simple moving average is $75.24 and its 200-day simple moving average is $74.58. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STTGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. Analysts expect that State Street Co. will post 7.95 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.71%. State Street’s payout ratio is 51.69%.

State Street 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.

Featured Stories

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

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.