Aviva PLC reduced its stake in shares of State Street Co. (NYSE:STT - Free Report) by 30.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 179,220 shares of the asset manager's stock after selling 79,138 shares during the period. Aviva PLC owned about 0.06% of State Street worth $17,590,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new stake in State Street during the fourth quarter worth $272,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock worth $44,725,000 after acquiring an additional 14,476 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of State Street by 0.6% in the fourth 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 last quarter. Janney Montgomery Scott LLC lifted its position in shares of State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock valued at $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in State Street during the fourth quarter worth about $395,000. 87.44% of the stock is owned by hedge funds and other institutional investors.
State Street Price Performance
Shares of NYSE:STT traded up $0.41 during trading on Friday, reaching $79.41. The company had a trading volume of 2,338,352 shares, compared to its average volume of 2,180,226. The company has a fifty day moving average of $91.04 and a two-hundred day moving average of $94.03. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $22.92 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 12 month low of $70.20 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.27 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.
State Street Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Tuesday, April 1st. State Street's payout ratio is currently 36.89%.
Insiders Place Their Bets
In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street 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 completion of the transaction, the executive vice president now owns 50,816 shares in the company, 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. Insiders own 0.31% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on STT. Bank of America lifted their target price on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Morgan Stanley reduced their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, 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 research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $102.43.
Check Out Our Latest Stock Report on STT
State Street Company Profile
(
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.
See Also
Before you consider State Street, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and State Street wasn't on the list.
While State Street currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
