Point72 Hong Kong Ltd Increases Stake in State Street Co. (NYSE:STT)

Point72 Hong Kong Ltd boosted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,982 shares of the asset manager's stock after buying an additional 9,717 shares during the period. Point72 Hong Kong Ltd's holdings in State Street were worth $9,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd increased its holdings in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street in the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its holdings in shares of State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after purchasing an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after purchasing an additional 311 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

STT stock traded up $0.03 during trading on Friday, hitting $98.23. The stock had a trading volume of 1,682,941 shares, compared to its average volume of 2,155,981. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company's 50-day moving average price is $87.22 and its two-hundred day moving average price is $93.82. The stock has a market capitalization of $28.01 billion, a P/E ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

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

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's dividend payout ratio (DPR) is currently 34.12%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STT. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Bank of America upped their target price on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 target price on State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $102.15.

Insider Buying and Selling at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,820 shares of company stock worth $1,567,972 in the last three months. 0.29% of the stock is owned by corporate 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.