Mufg Securities Americas Inc. acquired a new stake in State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,857 shares of the asset manager's stock, valued at approximately $477,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Norges Bank bought a new position in State Street in the 4th quarter worth about $161,021,000. Price T Rowe Associates Inc. MD lifted its position in shares of State Street by 236.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock valued at $226,642,000 after acquiring an additional 1,622,408 shares during the last quarter. FMR LLC boosted its position in shares of State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after purchasing an additional 870,849 shares during the period. Azora Capital LP purchased a new position in shares of State Street in the fourth quarter worth approximately $80,294,000. Finally, Northern Trust Corp raised its stake in State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after purchasing an additional 563,790 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.
Insider Activity
In related news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,820 shares of company stock worth $1,567,972. 0.29% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Citigroup dropped their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods lowered their target price on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company reduced their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $102.15.
Check Out Our Latest Stock Analysis on STT
State Street Stock Down 0.0%
Shares of NYSE STT traded down $0.04 during mid-day trading on Monday, hitting $98.25. The company had a trading volume of 1,082,952 shares, compared to its average volume of 2,151,688. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a market capitalization of $28.02 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a 50-day simple moving average of $87.22 and a two-hundred day simple moving average of $93.82.
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 (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the firm posted $1.69 EPS. On average, equities analysts expect that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. State Street's dividend payout ratio (DPR) is presently 34.12%.
State Street Company Profile
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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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