QRG Capital Management Inc. Has $8.45 Million Stock Position in State Street Co. (NYSE:STT)

QRG Capital Management Inc. lifted its holdings in State Street Co. (NYSE:STT - Free Report) by 36.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 109,138 shares of the asset manager's stock after purchasing an additional 29,293 shares during the period. QRG Capital Management Inc.'s holdings in State Street were worth $8,454,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in STT. AEGON ASSET MANAGEMENT UK Plc bought a new position in State Street during the fourth quarter valued at about $45,687,000. Private Management Group Inc. acquired a new position in shares of State Street in the third quarter valued at $36,022,000. Metropolis Capital Ltd lifted its position in State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager's stock worth $268,170,000 after purchasing an additional 537,431 shares during the period. AQR Capital Management LLC lifted its position in State Street by 122.8% in the third quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager's stock worth $59,242,000 after purchasing an additional 487,671 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in State Street by 873.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 453,700 shares of the asset manager's stock valued at $30,380,000 after buying an additional 407,100 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

Insiders Place Their Bets

In other news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction that occurred on Friday, February 16th. The shares were 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 approximately $1,294,801. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares of the company's stock, valued at $1,294,801. The disclosure for this sale can be found here. In the last three months, insiders sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STT. Morgan Stanley upped their target price on shares of State Street from $89.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Keefe, Bruyette & Woods decreased their price target on State Street from $89.00 to $86.00 and set a "market perform" rating on the stock in a research note on Monday, January 22nd. Argus increased their price objective on State Street from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Finally, UBS Group boosted their target price on shares of State Street from $80.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $84.04.

State Street Price Performance

Shares of STT traded up $0.32 during mid-day trading on Friday, hitting $76.58. 1,479,473 shares of the company traded hands, compared to its average volume of 2,898,532. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average of $74.48 and a 200 day moving average of $73.43. State Street Co. has a one year low of $62.78 and a one year high of $79.90. The stock has a market capitalization of $23.07 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.36 and a beta of 1.51.

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

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.60%. State Street's payout ratio is 51.69%.

About State Street

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.