Ethic Inc. Purchases 7,419 Shares of State Street Co. (NYSE:STT)

Ethic Inc. grew its position in shares of State Street Co. (NYSE:STT - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,050 shares of the asset manager's stock after acquiring an additional 7,419 shares during the quarter. Ethic Inc.'s holdings in State Street were worth $4,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in shares of State Street during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street during the fourth quarter valued at approximately $42,000. Coppell Advisory Solutions LLC boosted its position in shares of State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after buying an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on STT. Citigroup cut their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Evercore ISI cut their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Bank of America boosted their target price on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $102.15.

State Street Price Performance

STT traded down $0.10 during trading on Wednesday, reaching $97.68. 1,803,562 shares of the company were exchanged, compared to its average volume of 2,157,857. The company has a market cap of $27.86 billion, a price-to-earnings ratio of 11.85, 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 company's 50-day moving average is $86.58 and its two-hundred day moving average is $93.71. 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 announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the prior year, the company earned $1.69 EPS. Research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.11%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insider Activity

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,820 shares of company stock worth $1,567,972. 0.29% of the stock is currently owned by insiders.

About State Street

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.