APG Asset Management N.V. Buys New Stake in State Street Co. (NYSE:STT)

APG Asset Management N.V. bought a new stake in State Street Co. (NYSE:STT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 162,800 shares of the asset manager's stock, valued at approximately $15,431,000. APG Asset Management N.V. owned approximately 0.06% of State Street as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd grew its stake in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the 4th quarter valued at $42,000. Loomis Sayles & Co. L P raised its stake in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after acquiring an additional 311 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in State Street during the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of analyst reports. Evercore ISI reduced their price objective 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. Wells Fargo & Company lowered 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. Citigroup reduced their target price on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Bank of America boosted their target price on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Finally, Barclays boosted their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $103.69.

State Street Price Performance

NYSE:STT traded down $0.85 on Wednesday, reaching $80.55. 421,672 shares of the company's stock traded hands, compared to its average volume of 2,167,232. The firm has a market cap of $23.25 billion, a PE ratio of 9.78, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a 50-day simple moving average of $90.31 and a 200-day simple moving average of $93.89. 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 issued 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The firm's revenue for the quarter 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 announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.77%. State Street's dividend payout ratio (DPR) is 36.89%.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director now 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 disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

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.