Mizuho Securities USA LLC lifted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 43.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,784 shares of the asset manager's stock after acquiring an additional 8,420 shares during the period. Mizuho Securities USA LLC's holdings in State Street were worth $2,727,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in shares of State Street during the fourth quarter worth about $105,000. Northwest & Ethical Investments L.P. grew its stake in State Street by 141.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,590 shares of the asset manager's stock valued at $2,315,000 after acquiring an additional 13,838 shares during the last quarter. Magnetar Financial LLC increased its stake in shares of State Street by 77.0% during the 4th quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager's stock worth $409,000 after purchasing an additional 1,813 shares in the last quarter. Teacher Retirement System of Texas increased its position in State Street by 102.3% during the fourth quarter. Teacher Retirement System of Texas now owns 428,383 shares of the asset manager's stock worth $42,046,000 after buying an additional 216,583 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in State Street by 0.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 125,596 shares of the asset manager's stock valued at $12,327,000 after purchasing an additional 1,106 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.
Insider Activity at State Street
In related news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred 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 owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have commented on STT. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and upped their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft restated 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. Finally, Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. One 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 data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $101.53.
Read Our Latest Report on State Street
State Street Stock Down 3.1 %
STT traded down $2.83 on Friday, hitting $88.95. The company had a trading volume of 1,425,000 shares, compared to its average volume of 2,168,959. The stock has a fifty day simple moving average of $95.53 and a 200-day simple moving average of $94.36. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $25.66 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.
State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm'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, equities analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.
State Street Announces Dividend
The firm 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 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street's dividend payout ratio is presently 36.89%.
About State Street
(
Free Report)
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.
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