Hudson Bay Capital Management LP Takes Position in State Street Co. (NYSE:STT)

Hudson Bay Capital Management LP purchased a new stake in State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 110,017 shares of the asset manager's stock, valued at approximately $10,798,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Albion Financial Group UT acquired a new position in State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd increased its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in State Street in the 4th quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its position in 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 acquiring an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after acquiring an additional 311 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Down 0.1%

State Street stock traded down $0.10 during trading on Wednesday, reaching $97.68. 1,803,562 shares of the company's stock were exchanged, compared to its average volume of 2,157,857. The company's 50-day moving average is $86.58 and its two-hundred day moving average is $93.71. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping 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 firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same period in the prior year, the company earned $1.69 EPS. On average, analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.11%. State Street's dividend payout ratio is presently 34.12%.

Insider Activity

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,820 shares of company stock worth $1,567,972 over the last ninety days. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on STT. Barclays dropped their price target on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Bank of America lifted their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Finally, Evercore ISI lowered their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.