Hager Investment Management Services LLC Purchases New Shares in State Street Co. (NYSE:STT)

Hager Investment Management Services LLC acquired a new position in State Street Co. (NYSE:STT) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 570 shares of the asset manager’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after buying an additional 41,442 shares during the last quarter. FMR LLC increased its position in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. Metropolis Capital Ltd lifted its position in shares of State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after purchasing an additional 408,792 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

State Street Stock Performance

STT opened at $99.33 on Thursday. The business’s 50 day moving average is $98.49 and its 200-day moving average is $91.48. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market cap of $29.12 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

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

State Street Announces Dividend

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

Analyst Upgrades and Downgrades

STT has been the topic of several research reports. Truist Financial cut 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. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Barclays boosted their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.73.

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.