State Street Co. (NYSE:STT) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its position in shares of State Street Co. (NYSE:STT - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 586,161 shares of the asset manager's stock after acquiring an additional 86,299 shares during the quarter. Pinebridge Investments L.P. owned 0.20% of State Street worth $57,532,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of State Street during the 3rd quarter worth $1,125,000. Synovus Financial Corp boosted its holdings in State Street by 10.3% during the third quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager's stock worth $1,179,000 after buying an additional 1,247 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after buying an additional 103 shares during the period. Franklin Resources Inc. increased its holdings in State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock valued at $306,116,000 after buying an additional 408,792 shares in the last quarter. Finally, Inspire Trust Co. N.A. lifted its position in shares of State Street by 5.9% during the 3rd quarter. Inspire Trust Co. N.A. now owns 35,776 shares of the asset manager's stock valued at $3,165,000 after acquiring an additional 2,000 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company'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 directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street 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 completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

State Street Trading Down 0.3 %

Shares of STT stock traded down $0.24 during mid-day trading on Friday, hitting $87.33. 2,100,424 shares of the company's stock were exchanged, compared to its average volume of 2,155,288. The stock has a market cap of $25.20 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.11 and a beta of 1.42. 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 fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a 50-day simple moving average of $87.81 and a two-hundred day simple moving average of $93.64.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the company earned $1.69 EPS. Equities analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.48%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is 34.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on STT shares. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Evercore ISI dropped their price target on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Bank of America raised their target price on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Finally, Barclays reduced their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $102.15.

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.