Asset Management One Co. Ltd. Has $13.33 Million Stock Position in State Street Corporation (NYSE:STT)

Asset Management One Co. Ltd. grew its holdings in State Street Corporation (NYSE:STT - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,854 shares of the asset manager's stock after purchasing an additional 6,992 shares during the period. Asset Management One Co. Ltd. owned approximately 0.05% of State Street worth $13,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in State Street in the 4th quarter worth about $42,000. Coppell Advisory Solutions LLC increased its holdings in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after purchasing an additional 412 shares during the period. MV Capital Management Inc. lifted its position in shares of State Street by 98.4% in the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock worth $45,000 after purchasing an additional 251 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of 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 in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of State Street during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays dropped 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 note on Monday, April 21st. Wall Street Zen cut shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Cfra Research downgraded State Street from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, State Street currently has a consensus rating of "Hold" and a consensus target price of $102.54.

State Street Stock Up 0.6%

Shares of STT traded up $0.65 during midday trading on Friday, reaching $106.02. 2,043,244 shares of the stock were exchanged, compared to its average volume of 2,119,934. The firm has a 50 day simple moving average of $94.90 and a 200-day simple moving average of $94.20. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.07. State Street Corporation has a 12-month low of $71.96 and a 12-month high of $106.04. The company has a market cap of $30.24 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.22 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.79% and a net margin of 12.85%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the business earned $1.69 EPS. Research analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's payout ratio is 34.12%.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's 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 transaction, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% 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.