34,245 Shares in State Street Co. (NYSE:STT) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in shares of State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 34,245 shares of the asset manager's stock, valued at approximately $3,361,000.

Several other hedge funds have also recently modified their holdings of STT. Norges Bank acquired a new stake in shares of State Street during the fourth quarter worth $161,021,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of State Street by 236.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock worth $226,642,000 after purchasing an additional 1,622,408 shares during the period. FMR LLC lifted its holdings in shares of State Street by 14.2% during the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after purchasing an additional 870,849 shares during the period. Azora Capital LP acquired a new stake in State Street in the fourth quarter valued at $80,294,000. Finally, Northern Trust Corp lifted its holdings in State Street by 15.7% in the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after acquiring an additional 563,790 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

State Street Trading Up 0.8%

NYSE:STT opened at $96.26 on Friday. The company has a market capitalization of $27.45 billion, a PE ratio of 11.68, a price-to-earnings-growth 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. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a fifty day simple moving average of $88.08 and a 200-day simple moving average of $93.93.

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 (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the company posted $1.69 EPS. On average, equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's payout ratio is 34.12%.

Analysts Set New Price Targets

A number of research firms have commented on STT. Wells Fargo & Company reduced their target price on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. The Goldman Sachs Group set a $98.00 target price on State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Morgan Stanley reduced their target price on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $102.15.

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.

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