Fmr LLC Has $685.44 Million Stake in State Street Co. (NYSE:STT)

FMR LLC boosted its stake in State Street Co. (NYSE:STT - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,983,607 shares of the asset manager's stock after purchasing an additional 870,849 shares during the quarter. FMR LLC owned about 2.38% of State Street worth $685,441,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. IHT Wealth Management LLC purchased a new stake in State Street during the 3rd quarter worth $364,000. Wellington Management Group LLP raised 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 worth $45,889,000 after purchasing an additional 462,201 shares during the period. EP Wealth Advisors LLC bought a new stake in State Street in the third quarter valued at $308,000. MML Investors Services LLC lifted its position in State Street by 6.1% in the 3rd quarter. MML Investors Services LLC now owns 11,236 shares of the asset manager's stock valued at $994,000 after purchasing an additional 642 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of State Street by 6.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 91,247 shares of the asset manager's stock worth $8,073,000 after buying an additional 5,167 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on STT shares. Evercore ISI decreased their price target on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Bank of America upped their price target on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Barclays upped 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, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of "Hold" and a consensus target price of $102.43.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street 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 approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

State Street Trading Up 2.2 %

Shares of NYSE:STT traded up $1.77 during midday trading on Monday, reaching $81.18. The company had a trading volume of 375,559 shares, compared to its average volume of 2,173,186. The company has a fifty day simple moving average of $91.04 and a two-hundred day simple moving average of $94.03. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. 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 quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping 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% on a year-over-year basis. During the same period last year, the company posted $2.04 earnings per share. Research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.74%. State Street's payout ratio is currently 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.