Teacher Retirement System of Texas boosted its stake in shares of State Street Co. (NYSE:STT - Free Report) by 158.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,491 shares of the asset manager's stock after buying an additional 100,956 shares during the period. Teacher Retirement System of Texas owned approximately 0.05% of State Street worth $12,741,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. HBK Sorce Advisory LLC lifted its holdings in shares of State Street by 0.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager's stock valued at $1,348,000 after buying an additional 151 shares during the period. Syon Capital LLC increased its position in shares of State Street by 3.7% during the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager's stock valued at $367,000 after purchasing an additional 168 shares during the last quarter. Cardinal Capital Management lifted its stake in shares of State Street by 0.4% in the 4th quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager's stock worth $3,822,000 after purchasing an additional 174 shares during the period. Lido Advisors LLC boosted its holdings in shares of State Street by 1.6% in the third quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager's stock worth $756,000 after buying an additional 178 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager's stock valued at $30,000 after buying an additional 184 shares during the period. 87.44% of the stock is owned by institutional investors.
State Street Stock Performance
Shares of NYSE:STT traded down $0.42 on Monday, hitting $76.16. 1,418,529 shares of the company were exchanged, compared to its average volume of 2,342,027. The firm has a market capitalization of $22.94 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.36 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90. The stock's 50 day moving average price is $74.48 and its 200 day moving average price is $73.49.
State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.06 billion. Sell-side analysts predict that State Street Co. will post 7.96 EPS for the current year.
State Street Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.62%. State Street's dividend payout ratio is presently 51.69%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on STT. Keefe, Bruyette & Woods cut their price objective on shares of 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. Evercore ISI lifted their target price on shares of State Street from $85.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, April 4th. UBS Group increased their price target on State Street from $80.00 to $82.00 and gave the stock a "neutral" rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on State Street from $89.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. Finally, Argus lifted their target price on State Street from $84.00 to $86.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, State Street currently has a consensus rating of "Hold" and a consensus target price of $84.04.
View Our Latest Report on STT
Insider Transactions at State Street
In related news, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the 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 transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 in the last 90 days. 0.31% of the stock is currently owned by company insiders.
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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