Mirae Asset Global Investments Co. Ltd. Has $8.11 Million Stock Position in State Street Co. (NYSE:STT)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of State Street Co. (NYSE:STT - Free Report) by 19.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,472 shares of the asset manager's stock after buying an additional 13,657 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in State Street were worth $8,113,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STT. Albion Financial Group UT purchased a new stake in shares of State Street during the fourth quarter worth about $25,000. Y.D. More Investments Ltd increased its holdings in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the last quarter. Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at approximately $44,000. Friedenthal Financial purchased a new position in shares of State Street during the 4th quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of State Street during the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STT. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a report on Saturday, January 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. Barclays increased their target price on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $100.73.

State Street Stock Performance

NYSE STT traded down $0.15 on Friday, hitting $99.44. The stock had a trading volume of 1,371,123 shares, compared to its average volume of 2,132,460. The company's 50-day moving average is $98.53 and its two-hundred day moving average is $91.76. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $3.27 billion. During the same period last year, the firm earned $2.04 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that State Street Co. will post 9.6 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend 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.