Wellington Management Group LLP Has $54.10 Million Stock Position in State Street Co. (NYSE:STT)

Wellington Management Group LLP grew its holdings in State Street Co. (NYSE:STT - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 551,210 shares of the asset manager's stock after acquiring an additional 32,513 shares during the period. Wellington Management Group LLP owned about 0.19% of State Street worth $54,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. CIBC Private Wealth Group LLC grew its stake in shares of State Street by 4.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,758 shares of the asset manager's stock worth $954,000 after purchasing an additional 446 shares in the last quarter. Life Planning Partners Inc acquired a new position in shares of State Street during the fourth quarter worth $9,884,000. RWA Wealth Partners LLC purchased a new stake in State Street in the fourth quarter valued at $329,000. Summit Securities Group LLC purchased a new stake in State Street in the fourth quarter valued at $69,000. Finally, Schroder Investment Management Group lifted its position in State Street by 3.9% in the fourth quarter. Schroder Investment Management Group now owns 174,225 shares of the asset manager's stock valued at $17,123,000 after acquiring an additional 6,473 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI cut their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One 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, the company has an average rating of "Hold" and a consensus price target of $101.07.

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State Street Stock Down 4.4 %

STT traded down $3.59 during trading hours on Thursday, reaching $78.73. 310,893 shares of the stock traded hands, compared to its average volume of 2,188,822. The firm's fifty day simple moving average is $91.80 and its two-hundred day simple moving average is $94.12. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. 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 (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.04 EPS. As a group, analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other news, 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 directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company's stock, 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. 0.31% of the stock is owned by company insiders.

State Street Company 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.