Ameriprise Financial Inc. lessened its holdings in State Street Co. (NYSE:STT - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,625,344 shares of the asset manager's stock after selling 43,638 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.90% of State Street worth $257,677,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of STT. Aptus Capital Advisors LLC acquired a new position in State Street during the fourth quarter valued at approximately $218,000. AXA S.A. increased its position in shares of State Street by 8.5% in the 4th quarter. AXA S.A. now owns 328,026 shares of the asset manager's stock valued at $32,196,000 after buying an additional 25,725 shares in the last quarter. AlTi Global Inc. acquired a new stake in State Street during the 4th quarter worth $291,000. Caisse DE Depot ET Placement DU Quebec bought a new position in State Street during the fourth quarter worth about $16,697,000. Finally, Becker Capital Management Inc. acquired a new position in State Street in the fourth quarter valued at about $206,000. Institutional investors own 87.44% of the company's stock.
State Street Stock Up 0.0 %
STT stock opened at $90.57 on Tuesday. The business's fifty day moving average price is $86.67 and its two-hundred day moving average price is $93.60. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of 10.99, 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 released its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the business earned $1.69 earnings per share. On average, equities analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.
State Street Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.
Insiders Place Their Bets
In related news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on STT. Barclays cut their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. The Goldman Sachs Group set a $98.00 target price on State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. Citigroup decreased their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Bank of America boosted their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $102.15.
Get Our Latest Analysis on State Street
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.
Recommended Stories
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
