D.A. Davidson & CO. grew its stake in shares of State Street Co. (NYSE:STT - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,971 shares of the asset manager's stock after acquiring an additional 4,907 shares during the period. D.A. Davidson & CO.'s holdings in State Street were worth $12,462,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in State Street by 0.9% during the fourth quarter. CIBC Asset Management Inc now owns 51,500 shares of the asset manager's stock valued at $5,055,000 after acquiring an additional 444 shares during the period. Sanctuary Advisors LLC boosted its holdings in State Street by 6.6% during the fourth quarter. Sanctuary Advisors LLC now owns 15,666 shares of the asset manager's stock valued at $1,602,000 after acquiring an additional 966 shares during the period. Nkcfo LLC bought a new stake in State Street during the fourth quarter valued at about $2,748,000. V Square Quantitative Management LLC boosted its holdings in State Street by 6.9% during the fourth quarter. V Square Quantitative Management LLC now owns 9,761 shares of the asset manager's stock valued at $958,000 after acquiring an additional 632 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of State Street by 4.5% during the fourth quarter. Vontobel Holding Ltd. now owns 27,216 shares of the asset manager's stock valued at $2,671,000 after buying an additional 1,183 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.
State Street Price Performance
Shares of NYSE:STT traded down $0.91 during midday trading on Friday, hitting $98.74. The stock had a trading volume of 1,808,387 shares, compared to its average volume of 1,973,938. The company's 50-day moving average price is $98.58 and its 200-day moving average price is $92.64. The company has a market capitalization of $28.48 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.
State Street (NYSE:STT - Get Free Report) last issued 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. The company had revenue of $3.41 billion during 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 business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 EPS. As a group, equities research analysts predict that State Street Co. will post 9.65 EPS for the current fiscal year.
State Street Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is 36.89%.
Insider Activity at State Street
In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value 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 represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,020 shares of company stock valued at $2,674,661 in the last quarter. Insiders own 0.31% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on STT shares. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. One research 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.73.
Check Out Our Latest Research Report on STT
About State Street
(
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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