NEOS Investment Management LLC Has $1.59 Million Holdings in State Street Co. (NYSE:STT)

NEOS Investment Management LLC increased its holdings in State Street Co. (NYSE:STT) by 29.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,273 shares of the asset manager’s stock after purchasing an additional 3,728 shares during the period. NEOS Investment Management LLC’s holdings in State Street were worth $1,585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Albion Financial Group UT acquired a new position in State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd raised its position in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street in the fourth quarter worth approximately $42,000. Friedenthal Financial bought a new stake in State Street in the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC acquired a new stake in State Street during the 4th quarter valued at approximately $56,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $88.95 on Friday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock’s 50 day moving average is $95.35 and its 200-day moving average is $94.48. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44.

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, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 earnings per share. Sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STT shares. Citigroup dropped their price target on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley cut their target price on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their target price on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and an average target price of $101.53.

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.