Trexquant Investment LP Increases Stake in State Street Co. (NYSE:STT)

Trexquant Investment LP raised its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 2,673.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,337 shares of the asset manager's stock after purchasing an additional 180,582 shares during the quarter. Trexquant Investment LP owned approximately 0.06% of State Street worth $18,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Townsquare Capital LLC purchased a new stake in State Street during the 3rd quarter worth about $351,000. Public Sector Pension Investment Board increased its position in shares of State Street by 2.3% during the third quarter. Public Sector Pension Investment Board now owns 52,286 shares of the asset manager's stock valued at $4,626,000 after buying an additional 1,200 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of State Street by 14.1% in the third quarter. Rockefeller Capital Management L.P. now owns 24,631 shares of the asset manager's stock worth $2,176,000 after buying an additional 3,037 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of State Street by 57.3% in the third quarter. Verition Fund Management LLC now owns 39,854 shares of the asset manager's stock valued at $3,526,000 after acquiring an additional 14,517 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in State Street during the third quarter valued at approximately $1,066,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Remove Ads

Insider Activity

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, 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 currently owned by company insiders.

State Street Trading Down 7.8 %

STT stock traded down $6.95 on Thursday, reaching $82.64. The company's stock had a trading volume of 3,019,991 shares, compared to its average volume of 2,165,791. The firm has a market cap of $23.84 billion, a PE ratio of 10.03, a PEG ratio of 1.11 and a beta of 1.44. The business has a fifty day simple moving average of $94.85 and a two-hundred day simple moving average of $94.62. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm posted $2.04 EPS. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup dropped their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Bank of America increased 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. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $102.07.

State Street 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.