Pictet Asset Management Holding SA Acquires 22,123 Shares of State Street Co. (NYSE:STT)

Pictet Asset Management Holding SA raised its stake in shares of State Street Co. (NYSE:STT - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,098 shares of the asset manager's stock after purchasing an additional 22,123 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of State Street worth $18,560,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STT. Norges Bank purchased a new position in shares of State Street in the 4th quarter valued at approximately $161,021,000. Hotchkis & Wiley Capital Management LLC raised its holdings in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock worth $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. Amundi lifted its position in State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after buying an additional 561,773 shares during the period. Wellington Management Group LLP boosted its holdings in shares of State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after buying an additional 462,201 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of State Street in the 4th quarter worth about $44,070,000. 87.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was 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 approximately $10,002,300. This trade represents a 9.76 % 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, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction dated 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 $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

STT has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upgraded 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. Wells Fargo & Company lowered their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, 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 report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $102.07.

State Street Stock Performance

STT stock traded down $6.95 on Thursday, hitting $82.64. The company had a trading volume of 3,019,991 shares, compared to its average volume of 2,168,103. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The stock has a market cap 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 stock's 50-day simple moving average is $94.85 and its 200 day simple moving average is $94.62.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the business posted $2.04 EPS. The company's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 36.89%.

About State Street

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.