Bank of Montreal Can Buys 254,510 Shares of State Street Co. (NYSE:STT)

Bank of Montreal Can raised its position in State Street Co. (NYSE:STT - Free Report) by 54.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 720,909 shares of the asset manager's stock after purchasing an additional 254,510 shares during the quarter. Bank of Montreal Can owned 0.25% of State Street worth $70,757,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Albion Financial Group UT bought a new position in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street in the 4th quarter valued at $42,000. Loomis Sayles & Co. L P lifted its position in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in shares of State Street during the 4th quarter worth about $49,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley reduced their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Evercore ISI lowered their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Finally, Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $102.43.

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Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm's 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 sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

State Street Price Performance

NYSE:STT traded up $1.35 during trading hours on Monday, reaching $80.76. 418,924 shares of the company were exchanged, compared to its average volume of 2,173,444. The business has a 50 day moving average of $91.04 and a 200 day moving average of $94.03. 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 company has a market capitalization of $23.31 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS 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 firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the firm earned $2.04 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.76%. The ex-dividend date was Tuesday, April 1st. State Street's payout ratio is presently 36.89%.

State Street 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.