ProShare Advisors LLC Purchases 5,414 Shares of State Street Co. (NYSE:STT)

ProShare Advisors LLC increased its position in shares of State Street Co. (NYSE:STT - Free Report) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,799 shares of the asset manager's stock after acquiring an additional 5,414 shares during the period. ProShare Advisors LLC's holdings in State Street were worth $6,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Adero Partners LLC boosted its holdings in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after buying an additional 121 shares during the last quarter. Moors & Cabot Inc. boosted its stake in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after buying an additional 131 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after buying an additional 138 shares in the last quarter. Finally, Huntington National Bank grew its position in State Street by 1.3% in the fourth quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock valued at $1,146,000 after acquiring an additional 150 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Stock Up 0.8%

State Street stock traded up $0.73 during midday trading on Thursday, hitting $96.26. 1,805,251 shares of the stock were exchanged, compared to its average volume of 2,142,146. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The business's 50-day moving average price is $87.91 and its 200-day moving average price is $93.90. 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 market capitalization of $27.45 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm 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 previous year, the company posted $1.69 earnings per share. On average, research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Bank of America boosted their target price on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price target on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $102.15.

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.