Strs Ohio lifted its position in shares of State Street Co. (NYSE:STT - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,349 shares of the asset manager's stock after acquiring an additional 44,366 shares during the quarter. Strs Ohio owned approximately 0.08% of State Street worth $18,230,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of STT. Norges Bank bought a new position in State Street during the 4th quarter worth $184,482,000. Morgan Stanley raised its position in State Street by 31.1% during the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager's stock worth $467,876,000 after purchasing an additional 1,430,237 shares during the last quarter. Eaton Vance Management raised its position in State Street by 159.8% during the 1st quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager's stock worth $152,535,000 after purchasing an additional 1,077,013 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager's stock worth $88,750,000 after acquiring an additional 1,015,022 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of State Street in the 4th quarter worth about $45,687,000. 87.44% of the stock is owned by institutional investors.
State Street Stock Performance
STT stock traded down $0.21 during midday trading on Wednesday, reaching $72.81. 2,265,167 shares of the company's stock traded hands, compared to its average volume of 2,290,722. The company has a 50-day moving average price of $73.98 and a two-hundred day moving average price of $72.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a market capitalization of $21.98 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52.
State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Co. will post 7.87 EPS for the current year.
State Street Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.79%. State Street's payout ratio is currently 51.69%.
Insider Transactions at State Street
In other news, EVP Anthony Bisegna sold 4,258 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company's stock, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Anthony Bisegna sold 4,258 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company's stock, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares of the company's stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.25% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Keefe, Bruyette & Woods decreased their target price on State Street from $89.00 to $86.00 and set a "market perform" rating for the company in a research report on Monday, January 22nd. Argus boosted their target price on State Street from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Monday. Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada boosted their target price on State Street from $75.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $84.04.
View Our Latest Research Report on State Street
About State Street
(
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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