LPL Financial LLC Increases Stock Holdings in State Street Co. (NYSE:STT)

LPL Financial LLC lifted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 27.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 115,751 shares of the asset manager's stock after buying an additional 24,585 shares during the period. LPL Financial LLC's holdings in State Street were worth $11,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Amundi lifted its stake in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after acquiring an additional 561,773 shares during the period. Wellington Management Group LLP lifted its position in 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. Raymond James Financial Inc. purchased a new stake in State Street in the 4th quarter valued at approximately $44,070,000. National Bank of Canada FI increased its position in State Street by 99.4% during the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager's stock worth $78,574,000 after purchasing an additional 442,725 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock worth $306,116,000 after buying an additional 408,792 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

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Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was 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 owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction that occurred 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 owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STT. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company reduced their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $101.07.

State Street Trading Down 8.0 %

NYSE STT traded down $6.60 during mid-day trading on Friday, reaching $76.23. 3,147,886 shares of the stock were exchanged, compared to its average volume of 2,175,130. The business's fifty day simple moving average is $94.09 and its 200 day simple moving average is $94.52. 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 stock has a market capitalization of $21.99 billion, a PE ratio of 9.25, a PEG 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.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. The business's quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business 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 dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.99%. The ex-dividend date 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.