EntryPoint Capital LLC bought a new stake in State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,251 shares of the asset manager's stock, valued at approximately $319,000.
Other large investors also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC lifted its stake in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock worth $514,136,000 after acquiring an additional 1,354,560 shares in the last quarter. FMR LLC lifted its position in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Amundi lifted its position in shares of State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of State Street by 818.1% in the third 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 period. Finally, Raymond James Financial Inc. acquired a new position in shares of State Street in the fourth quarter valued at approximately $44,070,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. 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 boosted their target price on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Finally, StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, State Street has an average rating of "Hold" and a consensus target price of $102.33.
Check Out Our Latest Analysis on State Street
State Street Stock Performance
NYSE STT traded down $0.71 during trading hours on Tuesday, hitting $88.82. The company had a trading volume of 2,187,842 shares, compared to its average volume of 2,170,659. The business has a 50 day moving average of $94.99 and a 200-day moving average of $94.65. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a market cap of $25.62 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.
State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 12.60% and a net margin of 12.14%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 EPS. As a group, equities research analysts expect that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.42%. State Street's dividend payout ratio (DPR) is 36.89%.
Insider Buying and Selling
In other news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company's stock, valued at approximately $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 accessible 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 value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
State Street Profile
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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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