Rhumbline Advisers Has $50.48 Million Stock Holdings in State Street Co. (NYSE:STT)

Rhumbline Advisers lifted its stake in shares of State Street Co. (NYSE:STT - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 563,846 shares of the asset manager's stock after buying an additional 20,212 shares during the quarter. Rhumbline Advisers owned about 0.20% of State Street worth $50,481,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of STT. Y.D. More Investments Ltd increased its position in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in State Street during the fourth quarter worth about $42,000. Coppell Advisory Solutions LLC increased its position in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after acquiring an additional 412 shares during the period. Loomis Sayles & Co. L P increased its position in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after acquiring an additional 311 shares during the period. Finally, Minot DeBlois Advisors LLC bought a new position in State Street during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Price Performance

Shares of STT traded up $0.42 during mid-day trading on Thursday, reaching $96.42. The company had a trading volume of 960,904 shares, compared to its average volume of 2,121,439. The company's 50 day simple moving average is $89.10 and its 200 day simple moving average is $94.02. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $27.50 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.11 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results 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 net margin of 12.14% and a return on equity of 12.60%. The company 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 company posted $1.69 EPS. Analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.15%. State Street's payout ratio is currently 34.12%.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value 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. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on STT. Cfra Research lowered shares of State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. Wall Street Zen lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Bank of America raised their price target on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Citigroup decreased their target price on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Evercore ISI decreased their target price on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's 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 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.