Headlands Technologies LLC Makes New $1.13 Million Investment in State Street Co. (NYSE:STT)

Headlands Technologies LLC acquired a new position 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 firm acquired 11,461 shares of the asset manager's stock, valued at approximately $1,125,000.

Several other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock worth $704,238,000 after buying an additional 24,617 shares in the last quarter. Diametric Capital LP purchased a new stake in State Street in the 4th quarter worth approximately $393,000. Franklin Resources Inc. raised its stake in State Street by 1.7% during the 4th quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager's stock worth $335,884,000 after acquiring an additional 55,598 shares during the period. AIA Group Ltd lifted its holdings in State Street by 2.7% during the fourth quarter. AIA Group Ltd now owns 19,948 shares of the asset manager's stock valued at $1,958,000 after purchasing an additional 532 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of State Street by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 551,210 shares of the asset manager's stock worth $54,101,000 after purchasing an additional 32,513 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

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

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Wall Street Analyst Weigh In

Several analysts have recently commented on STT shares. JPMorgan Chase & Co. upgraded 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 report on Friday, December 20th. Evercore ISI decreased their price target on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Citigroup cut their target price on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley lowered their price target on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, State Street currently has a consensus rating of "Hold" and an average price target of $102.07.

State Street Price Performance

STT stock traded down $6.95 during trading on Thursday, hitting $82.64. 3,019,991 shares of the company's stock traded hands, compared to its average volume of 2,168,103. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The stock has a market capitalization of $23.84 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 1.11 and a beta of 1.44. The business has a fifty day simple moving average of $94.55 and a 200 day simple moving average of $94.53. 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 quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 EPS. As a group, research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is 36.89%.

State Street Company 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.