KLP Kapitalforvaltning AS Invests $17.25 Million in State Street Co. (NYSE:STT)

KLP Kapitalforvaltning AS acquired a new position in shares of State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 175,699 shares of the asset manager's stock, valued at approximately $17,245,000. KLP Kapitalforvaltning AS owned 0.06% of State Street as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STT. Knights of Columbus Asset Advisors LLC lifted its holdings in State Street by 11.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 7,396 shares of the asset manager's stock worth $726,000 after buying an additional 750 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of State Street during the fourth quarter valued at $822,000. American Century Companies Inc. lifted its stake in shares of State Street by 2.4% in the 4th quarter. American Century Companies Inc. now owns 335,668 shares of the asset manager's stock worth $32,946,000 after acquiring an additional 7,833 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of State Street by 43.5% in the fourth quarter. Mizuho Securities USA LLC now owns 27,784 shares of the asset manager's stock valued at $2,727,000 after acquiring an additional 8,420 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of State Street in the 4th quarter worth $105,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays increased their price target on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. 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 report on Monday. Finally, Wells Fargo & Company increased their target price on State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $101.87.

Remove Ads

State Street Stock Performance

Shares of STT stock traded down $1.02 on Thursday, hitting $91.63. The company's stock had a trading volume of 299,900 shares, compared to its average volume of 2,049,012. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $26.43 billion, a PE ratio of 11.15, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock's 50 day moving average is $95.70 and its 200-day moving average is $94.38.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 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 analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company's revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. Equities research analysts expect that State Street Co. will post 9.68 earnings per share 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. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's payout ratio is presently 36.89%.

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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, 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. Corporate insiders own 0.31% of the company's stock.

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.