Pinebridge Investments L.P. Boosts Position in State Street Co. (NYSE:STT)

Pinebridge Investments L.P. increased its position in shares of State Street Co. (NYSE:STT - Free Report) by 17.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 586,161 shares of the asset manager's stock after acquiring an additional 86,299 shares during the period. Pinebridge Investments L.P. owned about 0.20% of State Street worth $57,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in STT. Albion Financial Group UT acquired a new position in State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd grew its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in State Street in the 4th quarter valued at about $42,000. Loomis Sayles & Co. L P raised its stake in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the period. Finally, Friedenthal Financial bought a new position in State Street in the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Performance

STT stock traded down $0.04 during midday trading on Monday, reaching $87.34. 720,299 shares of the company's stock traded hands, compared to its average volume of 2,147,434. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a 50-day moving average price of $87.81 and a two-hundred day moving average price of $93.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $25.21 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the prior year, the business posted $1.69 earnings per share. As a group, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.48%. State Street's payout ratio is presently 34.12%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Bank of America increased their target price on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Barclays cut their target price on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.15.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.