Northern Trust Corp Grows Stake in State Street Co. (NYSE:STT)

Northern Trust Corp increased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 15.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,148,410 shares of the asset manager's stock after purchasing an additional 563,790 shares during the quarter. Northern Trust Corp owned 1.42% of State Street worth $407,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in State Street by 9.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,194,138 shares of the asset manager's stock valued at $117,205,000 after purchasing an additional 107,707 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of State Street in the fourth quarter valued at $212,000. Quarry LP purchased a new stake in shares of State Street in the 4th quarter valued at $516,000. Susquehanna Fundamental Investments LLC acquired a new position in State Street during the 4th quarter worth about $27,812,000. Finally, Coldstream Capital Management Inc. boosted its holdings in State Street by 8.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,883 shares of the asset manager's stock valued at $479,000 after acquiring an additional 369 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Performance

Shares of State Street stock traded up $1.78 during trading on Friday, reaching $90.51. The company's stock had a trading volume of 1,550,590 shares, compared to its average volume of 2,150,843. The company has a 50-day moving average price of $86.80 and a two-hundred day moving average price of $93.59. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm has a market cap of $26.12 billion, a PE ratio of 10.98, a P/E/G 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.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS 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 analyst estimates of $3.30 billion. During the same period in the previous year, the business posted $1.69 earnings per share. On average, analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.36%. State Street's dividend payout ratio (DPR) is currently 34.12%.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction that occurred on 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 owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

STT has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Evercore ISI cut their price target on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Finally, Citigroup lowered their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, State Street currently has a consensus rating of "Hold" and an average target price of $102.15.

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.