Price T Rowe Associates Inc. MD Raises Stock Position in State Street Co. (NYSE:STT)

Price T Rowe Associates Inc. MD lifted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 236.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,309,130 shares of the asset manager's stock after buying an additional 1,622,408 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.79% of State Street worth $226,642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Albion Financial Group UT purchased a new position in State Street during the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the 4th quarter valued at approximately $42,000. Loomis Sayles & Co. L P boosted its holdings in State Street by 187.3% during the fourth 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 in the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of State Street during the 4th quarter worth about $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's 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 transaction, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on STT shares. Barclays dropped their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, State Street presently has a consensus rating of "Hold" and a consensus price target of $102.15.

State Street Price Performance

State Street stock traded up $0.44 during midday trading on Thursday, reaching $88.54. The company's stock had a trading volume of 272,228 shares, compared to its average volume of 2,145,735. The business has a 50-day moving average price of $87.13 and a 200-day moving average price of $93.61. The stock has a market cap of $25.55 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

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

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is currently 34.12%.

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.