Advisors Asset Management Inc. Purchases 6,836 Shares of State Street Co. (NYSE:STT)

Advisors Asset Management Inc. increased its stake in shares of State Street Co. (NYSE:STT - Free Report) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,532 shares of the asset manager's stock after purchasing an additional 6,836 shares during the period. Advisors Asset Management Inc.'s holdings in State Street were worth $3,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its holdings in shares of State Street by 1.2% during the 4th quarter. Natixis Advisors LLC now owns 241,717 shares of the asset manager's stock valued at $23,724,000 after buying an additional 2,765 shares during the period. Frank Rimerman Advisors LLC increased its holdings in State Street by 9.9% in the 4th quarter. Frank Rimerman Advisors LLC now owns 2,676 shares of the asset manager's stock worth $263,000 after acquiring an additional 240 shares in the last quarter. Catalyst Funds Management Pty Ltd raised its stake in State Street by 27.8% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 4,600 shares of the asset manager's stock valued at $451,000 after purchasing an additional 1,000 shares during the period. LBP AM SA lifted its holdings in State Street by 2.0% in the 4th quarter. LBP AM SA now owns 73,442 shares of the asset manager's stock worth $7,208,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in State Street by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 107,416 shares of the asset manager's stock worth $10,543,000 after purchasing an additional 2,213 shares during the period. Institutional investors own 87.44% of the company's stock.

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Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm's 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 directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

STT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target on the stock in a report on Friday, December 20th. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. 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. Finally, Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has an average rating of "Hold" and a consensus price target of $101.87.

State Street Trading Up 0.1 %

STT traded up $0.12 during trading on Wednesday, reaching $92.64. The company had a trading volume of 1,052,342 shares, compared to its average volume of 2,054,750. 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 business has a 50 day simple moving average of $95.84 and a 200-day simple moving average of $94.40. The stock has a market cap of $26.72 billion, a P/E ratio of 11.24, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT - Get Free Report) last announced its earnings results 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm posted $2.04 earnings per share. The business's revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is currently 36.89%.

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.