Laurion Capital Management LP raised its holdings in State Street Co. (NYSE:STT - Free Report) by 86.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,025 shares of the asset manager's stock after purchasing an additional 13,935 shares during the quarter. Laurion Capital Management LP's holdings in State Street were worth $2,947,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in STT. Lighthouse Investment Partners LLC bought a new stake in State Street during the 4th quarter worth about $12,310,000. Junto Capital Management LP bought a new position in State Street in the fourth quarter valued at approximately $44,053,000. Hudson Bay Capital Management LP acquired a new stake in State Street during the 4th quarter worth $10,798,000. Gotham Asset Management LLC raised its position in shares of State Street by 22.3% during the 4th quarter. Gotham Asset Management LLC now owns 20,906 shares of the asset manager's stock valued at $2,052,000 after acquiring an additional 3,817 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its position in shares of State Street by 1,081.2% in the 4th quarter. Graham Capital Management L.P. now owns 63,314 shares of the asset manager's stock worth $6,214,000 after purchasing an additional 57,954 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.
Insiders Place Their Bets
In related news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76% 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 three months. Insiders own 0.29% of the company's stock.
State Street Stock Performance
Shares of STT 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. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The firm's fifty day moving average price is $86.74 and its 200-day moving average price is $93.74. 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 $27.86 billion, a PE ratio of 11.85, a PEG ratio of 1.11 and a beta of 1.42.
State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 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 the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the previous year, the company earned $1.69 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, July 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.11%. State Street's dividend payout ratio is currently 34.12%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Barclays decreased their target price on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company cut their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. 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. Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Bank of America lifted their target price on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $102.15.
Get Our Latest Stock Report on STT
State Street Profile
(
Free Report)
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.
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