Elo Mutual Pension Insurance Co Has $3.06 Million Position in State Street Co. (NYSE:STT)

Elo Mutual Pension Insurance Co boosted its position in shares of State Street Co. (NYSE:STT - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,178 shares of the asset manager's stock after purchasing an additional 4,561 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in State Street were worth $3,060,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in shares of State Street in the third quarter valued at approximately $226,000. Cerity Partners LLC lifted its position in State Street by 35.1% during the 3rd quarter. Cerity Partners LLC now owns 60,936 shares of the asset manager's stock worth $5,391,000 after buying an additional 15,818 shares in the last quarter. FMR LLC boosted its stake in shares of State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after buying an additional 833,679 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of State Street in the 3rd quarter valued at about $79,000. Finally, Townsquare Capital LLC acquired a new stake in shares of State Street in the third quarter valued at about $351,000. Institutional investors own 87.44% of the company's stock.

Insider Activity at State Street

In related news, 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 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 trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Remove Ads

State Street Stock Performance

NYSE STT traded up $0.58 during trading on Monday, reaching $89.62. The company's stock had a trading volume of 2,222,700 shares, compared to its average volume of 2,169,173. The firm has a 50 day moving average price of $95.35 and a 200 day moving average price of $94.56. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The firm has a market capitalization of $25.85 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. 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 issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (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 business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the previous year, the company posted $2.04 earnings per share. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

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 $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is currently 36.89%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STT. Citigroup dropped their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed 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. Wells Fargo & Company lowered their price target on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, State Street has an average rating of "Hold" and an average target price of $101.53.

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.