Trust Co. of Vermont Boosts Stock Position in State Street Co. (NYSE:STT)

Trust Co. of Vermont grew its position in State Street Co. (NYSE:STT) by 190.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,889 shares of the asset manager’s stock after buying an additional 1,239 shares during the period. Trust Co. of Vermont’s holdings in State Street were worth $185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. Benjamin F. Edwards & Company Inc. increased its position in shares of State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in State Street by 152.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 150,022 shares of the asset manager’s stock valued at $11,102,000 after buying an additional 90,500 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in State Street by 4.6% in the second quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock worth $1,549,000 after acquiring an additional 922 shares in the last quarter. Sei Investments Co. grew its stake in shares of State Street by 14.5% during the second quarter. Sei Investments Co. now owns 500,238 shares of the asset manager’s stock worth $37,017,000 after acquiring an additional 63,438 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings 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. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Down 3.0 %

Shares of STT stock opened at $97.51 on Monday. The stock has a 50 day simple moving average of $97.72 and a 200-day simple moving average of $89.63. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The company 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. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3,267,560 billion. During the same period last year, the firm posted $2.04 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that State Street Co. will post 8.45 EPS for the current fiscal year.

State Street Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial started coverage on State Street in a research report on Tuesday, January 7th. They issued a “hold” rating and a $106.00 target price on the stock. Wells Fargo & Company lifted their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.33.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Company 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.