AEGON ASSET MANAGEMENT UK Plc Purchases 99,688 Shares of State Street Corporation $STT

AEGON ASSET MANAGEMENT UK Plc grew its position in State Street Corporation (NYSE:STT) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 445,230 shares of the asset manager’s stock after purchasing an additional 99,688 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.16% of State Street worth $51,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LBP AM SA raised its stake in State Street by 2.6% during the 3rd quarter. LBP AM SA now owns 59,879 shares of the asset manager’s stock worth $6,947,000 after buying an additional 1,531 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of State Street by 1.0% in the third quarter. Cullen Frost Bankers Inc. now owns 21,500 shares of the asset manager’s stock worth $2,494,000 after acquiring an additional 218 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of State Street by 0.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 23,179 shares of the asset manager’s stock worth $2,689,000 after acquiring an additional 133 shares in the last quarter. Sagespring Wealth Partners LLC raised its position in shares of State Street by 17.1% during the third quarter. Sagespring Wealth Partners LLC now owns 3,342 shares of the asset manager’s stock worth $388,000 after purchasing an additional 488 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of State Street by 6.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 322,890 shares of the asset manager’s stock valued at $37,458,000 after purchasing an additional 18,726 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on STT. Citigroup increased their target price on State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. BMO Capital Markets assumed coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price target on the stock. Wells Fargo & Company upped their price target on shares of State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Truist Financial set a $136.00 price objective on shares of State Street in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and an average price target of $135.83.

State Street Trading Down 1.8%

Shares of NYSE:STT opened at $126.10 on Monday. The company’s 50-day moving average price is $126.05 and its two-hundred day moving average price is $117.86. State Street Corporation has a one year low of $72.81 and a one year high of $137.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59. The stock has a market capitalization of $35.22 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. State Street’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.84 per share. The ex-dividend date was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. State Street’s dividend payout ratio is currently 35.71%.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.