Oak Associates Ltd. OH Raises Position in State Street Co. (NYSE:STT)

Oak Associates Ltd. OH raised its holdings in State Street Co. (NYSE:STT - Free Report) by 18.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,813 shares of the asset manager's stock after buying an additional 10,309 shares during the period. Oak Associates Ltd. OH's holdings in State Street were worth $6,558,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Adero Partners LLC boosted its position in State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock valued at $467,000 after buying an additional 103 shares during the last quarter. Jacobi Capital Management LLC grew its stake in shares of State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after buying an additional 121 shares in the last quarter. Moors & Cabot Inc. increased its holdings in State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after buying an additional 131 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after acquiring an additional 138 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the 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 sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STT shares. Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Citigroup reduced their target price on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Barclays increased their price target 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. Finally, StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $102.43.

State Street Stock Performance

Shares of NYSE STT traded up $1.56 during mid-day trading on Monday, reaching $80.97. 2,267,651 shares of the company's stock were exchanged, compared to its average volume of 2,180,573. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm has a 50-day moving average price of $91.04 and a two-hundred day moving average price of $94.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. 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 released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the firm earned $2.04 EPS. The company's revenue was up 12.1% compared to the same quarter last year. Analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is currently 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.