Legal & General Group Plc Has $203 Million Holdings in State Street Co. (NYSE:STT)

Legal & General Group Plc trimmed its position in State Street Co. (NYSE:STT - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,068,231 shares of the asset manager's stock after selling 554,627 shares during the quarter. Legal & General Group Plc owned approximately 0.71% of State Street worth $202,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Albion Financial Group UT bought a new stake in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street in the 4th quarter worth $42,000. Loomis Sayles & Co. L P grew its stake in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial bought a new stake in State Street in the fourth quarter valued at about $49,000. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the 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 of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade 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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State Street Stock Up 1.8 %

NYSE:STT traded up $1.45 on Tuesday, hitting $82.36. 508,959 shares of the company's stock were exchanged, compared to its average volume of 2,174,085. The firm has a 50-day moving average price of $90.67 and a 200-day moving average price of $93.98. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $23.77 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same quarter in the prior year, the business posted $2.04 EPS. The business's revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STT shares. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Finally, Citigroup reduced their target price on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, State Street has a consensus rating of "Hold" and a consensus price target of $102.43.

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.