DRW Securities LLC bought a new position in State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,672 shares of the asset manager's stock, valued at approximately $2,225,000.
A number of other hedge funds also recently bought and sold shares of STT. IHT Wealth Management LLC purchased a new stake in State Street during the 3rd quarter valued at $364,000. Wellington Management Group LLP increased its position in shares of State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after purchasing an additional 462,201 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of State Street in the third quarter worth approximately $308,000. MML Investors Services LLC grew its position in State Street by 6.1% during the third quarter. MML Investors Services LLC now owns 11,236 shares of the asset manager's stock valued at $994,000 after buying an additional 642 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in State Street by 6.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 91,247 shares of the asset manager's stock worth $8,073,000 after acquiring an additional 5,167 shares during the period. Institutional investors own 87.44% of the company's stock.
Insiders Place Their Bets
In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
State Street Stock Up 1.1 %
Shares of STT stock traded up $0.90 during mid-day trading on Monday, hitting $80.31. 575,620 shares of the stock traded hands, compared to its average volume of 2,174,009. The stock has a market cap of $23.18 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a 52-week low of $70.20 and a 52-week 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 stock's fifty day moving average is $91.04 and its two-hundred day moving average is $94.03.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same quarter last year, the firm earned $2.04 EPS. The business's quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts predict that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 36.89%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on STT shares. Barclays raised their price objective on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company dropped their target price on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Evercore ISI dropped their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $102.43.
Read Our Latest Stock Analysis on STT
State Street Company Profile
(
Free Report)
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.
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