E. Ohman J or Asset Management AB Increases Stock Holdings in State Street Co. (NYSE:STT)

E. Ohman J or Asset Management AB grew its position in State Street Co. (NYSE:STT) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,829 shares of the asset manager’s stock after buying an additional 640 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in State Street were worth $1,259,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Peapack Gladstone Financial Corp increased its position in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after buying an additional 103 shares in the last quarter. Empirical Finance LLC increased its position in shares of State Street by 1.4% in the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares in the last quarter. ST Germain D J Co. Inc. increased its position in shares of State Street by 6.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after buying an additional 180 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of State Street by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock valued at $512,000 after buying an additional 184 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of State Street by 8.3% during the third quarter. Allworth Financial LP now owns 2,425 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $99.33 on Thursday. The firm has a market capitalization of $29.12 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.14 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50-day simple moving average is $98.49 and its 200-day simple moving average is $91.48.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 EPS. Equities analysts predict that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on 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 in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on STT. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.73.

About State Street

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.