Handelsbanken Fonder AB grew its position in shares of State Street Corporation (NYSE:STT - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,004 shares of the asset manager's stock after buying an additional 18,899 shares during the quarter. Handelsbanken Fonder AB's holdings in State Street were worth $13,418,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in State Street by 1.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager's stock worth $675,000 after buying an additional 83 shares during the last quarter. Wedmont Private Capital raised its position in State Street by 1.3% during the 4th quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager's stock worth $861,000 after buying an additional 85 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager's stock worth $39,000 after buying an additional 94 shares during the last quarter. Arjuna Capital grew its stake in shares of State Street by 0.4% during the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager's stock worth $3,243,000 after purchasing an additional 95 shares during the period. Finally, LVW Advisors LLC grew its stake in shares of State Street by 1.7% during the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager's stock worth $723,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.
Wall Street Analysts Forecast Growth
STT has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of State Street from $152.00 to $168.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Morgan Stanley upped their price target on shares of State Street from $155.00 to $166.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Citigroup upped their price target on shares of State Street from $150.00 to $172.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Seaport Research Partners reaffirmed a "buy" rating and set a $170.00 price target on shares of State Street in a research note on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of State Street in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, State Street has an average rating of "Moderate Buy" and a consensus price target of $155.77.
Check Out Our Latest Report on STT
Insider Activity at State Street
In related news, EVP John Plansky sold 16,100 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the sale, the executive vice president directly owned 56,162 shares of the company's stock, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mostapha Tahiri sold 9,611 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer directly owned 64,642 shares in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,711 shares of company stock valued at $3,933,032. Insiders own 0.27% of the company's stock.
State Street Stock Performance
NYSE:STT opened at $153.55 on Friday. The stock has a market cap of $42.50 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45. State Street Corporation has a fifty-two week low of $94.19 and a fifty-two week high of $156.18. The firm's fifty day simple moving average is $139.21 and its 200-day simple moving average is $130.67. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.04 EPS. Analysts expect that State Street Corporation will post 12.35 earnings per share for the current fiscal year.
State Street Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street's dividend payout ratio is presently 34.08%.
About State Street
(
Free Report)
State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.
State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.
Further Reading
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