National Bank of Canada FI Boosts Stock Holdings in State Street Co. (NYSE:STT)

National Bank of Canada FI boosted its holdings in State Street Co. (NYSE:STT - Free Report) by 30.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,182 shares of the asset manager's stock after acquiring an additional 24,931 shares during the period. National Bank of Canada FI's holdings in State Street were worth $8,256,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates increased its holdings in shares of State Street by 23.2% in the third quarter. Raymond James & Associates now owns 74,589 shares of the asset manager's stock valued at $4,994,000 after purchasing an additional 14,067 shares during the period. Brown Advisory Inc. increased its position in State Street by 2.3% during the 3rd quarter. Brown Advisory Inc. now owns 18,526 shares of the asset manager's stock worth $1,241,000 after purchasing an additional 422 shares in the last quarter. Advisor Partners II LLC raised its stake in State Street by 8.7% in the 3rd quarter. Advisor Partners II LLC now owns 21,351 shares of the asset manager's stock valued at $1,430,000 after purchasing an additional 1,709 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of State Street during the third quarter valued at approximately $452,000. Finally, TIAA Trust National Association purchased a new stake in shares of State Street in the third quarter valued at $880,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada raised their price objective on State Street from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, January 22nd. UBS Group upped their price objective on shares of State Street from $80.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. Evercore ISI boosted their price objective on State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. Morgan Stanley boosted their target price on shares of State Street from $89.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Finally, Argus lifted their price target on State Street from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, State Street currently has a consensus rating of "Hold" and a consensus price target of $84.04.

State Street Stock Performance

Shares of STT stock traded up $0.32 on Friday, reaching $76.58. The stock had a trading volume of 1,448,858 shares, compared to its average volume of 2,347,892. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.32 and a beta of 1.52. The firm's 50-day moving average is $74.43 and its two-hundred day moving average is $73.28. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. On average, research analysts expect that State Street Co. will post 7.96 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced 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 was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.60%. State Street's dividend payout ratio (DPR) is currently 51.69%.

Insider Buying and Selling at State Street

In related news, EVP Anthony Bisegna sold 2,606 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company's stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following 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. Insiders have sold 18,864 shares of company stock worth $1,390,597 over the last quarter. Corporate insiders own 0.31% of the company's stock.

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.