Brandes Investment Partners LP Increases Position in State Street Co. (NYSE:STT)

Brandes Investment Partners LP grew its stake in State Street Co. (NYSE:STT - Free Report) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 857,557 shares of the asset manager's stock after acquiring an additional 124,150 shares during the quarter. Brandes Investment Partners LP owned about 0.28% of State Street worth $66,426,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. HBK Sorce Advisory LLC grew its holdings in State Street by 0.8% in the third quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager's stock worth $1,348,000 after purchasing an additional 151 shares during the last quarter. Syon Capital LLC raised its stake in State Street by 3.7% in the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager's stock worth $367,000 after acquiring an additional 168 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in State Street by 4.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,132 shares of the asset manager's stock worth $320,000 after acquiring an additional 170 shares during the period. Cardinal Capital Management grew its stake in State Street by 0.4% during the 4th quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager's stock valued at $3,822,000 after purchasing an additional 174 shares during the last quarter. Finally, Lido Advisors LLC increased 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 valued at $756,000 after purchasing an additional 178 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STT shares. Keefe, Bruyette & Woods dropped their target price on State Street from $89.00 to $86.00 and set a "market perform" rating on the stock in a research report on Monday, January 22nd. JPMorgan Chase & Co. lifted their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. 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 report on Friday, April 12th. Morgan Stanley boosted their price objective on State Street from $89.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada increased their price objective on shares of State Street from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, State Street currently has a consensus rating of "Hold" and an average price target of $84.04.

Insider Transactions at State Street

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares of the company's stock, valued at approximately $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, 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. Corporate insiders own 0.31% of the company's stock.

State Street Trading Down 1.1 %

Shares of NYSE STT traded down $0.86 during trading on Monday, reaching $77.15. The stock had a trading volume of 2,339,918 shares, compared to its average volume of 2,325,614. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $23.24 billion, a P/E ratio of 14.47, a PEG ratio of 1.34 and a beta of 1.51. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The business's 50-day moving average price is $74.93 and its 200-day moving average price is $73.95.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. On average, equities research analysts predict that State Street Co. will post 7.95 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.76 annualized dividend and a dividend yield of 3.58%. State Street's dividend payout ratio (DPR) is 51.69%.

State Street Company 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.

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