River Global Investors LLP Has $2.21 Million Stock Holdings in State Street Co. (NYSE:STT)

River Global Investors LLP lowered its position in State Street Co. (NYSE:STT - Free Report) by 67.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,475 shares of the asset manager's stock after selling 47,091 shares during the period. River Global Investors LLP's holdings in State Street were worth $2,207,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Flagship Harbor Advisors LLC bought a new stake in shares of State Street in the fourth quarter worth about $272,000. KBC Group NV increased its position in shares of State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock worth $6,607,000 after acquiring an additional 12,707 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after purchasing an additional 7,446 shares during the period. Merit Financial Group LLC bought a new position in State Street during the 4th quarter worth about $395,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock valued at $184,025,000 after purchasing an additional 10,404 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction on 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 in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm'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 sale, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $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 owned by company insiders.

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State Street Stock Performance

Shares of STT traded up $0.04 during midday trading on Wednesday, reaching $85.76. The stock had a trading volume of 2,420,290 shares, compared to its average volume of 2,075,581. The firm has a market cap of $24.74 billion, a PE ratio of 10.41, a P/E/G ratio of 1.11 and a beta of 1.44. The firm has a 50 day simple moving average of $97.43 and a 200-day simple moving average of $94.15. State Street Co. has a one year low of $70.20 and a one year high of $103.00. 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 (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is presently 36.89%.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, State Street has an average rating of "Hold" and a consensus price target of $101.20.

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.