Quantessence Capital LLC bought a new position in State Street Co. (NYSE:STT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,909 shares of the asset manager's stock, valued at approximately $482,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adero Partners LLC increased its position in State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after buying an additional 103 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after acquiring an additional 121 shares during the period. Moors & Cabot Inc. lifted its stake in shares of State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after purchasing an additional 131 shares during the period. Finally, Apollon Wealth Management LLC boosted its position in shares of State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after purchasing an additional 138 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Finally, Evercore ISI lowered their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, State Street has a consensus rating of "Hold" and an average target price of $102.15.
Check Out Our Latest Report on STT
Insiders Place Their Bets
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 directly owns 100,023 shares in the company, valued at $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 available at this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.
State Street Trading Down 0.0 %
Shares of State Street stock traded down $0.01 on Monday, reaching $87.37. The company had a trading volume of 643,970 shares, compared to its average volume of 2,147,126. The firm has a market cap of $25.21 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.11 and a beta of 1.42. The firm's 50-day moving average price is $87.81 and its two-hundred day moving average price is $93.70. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.
State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the firm posted $1.69 EPS. As a group, research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.48%. State Street's dividend payout ratio (DPR) is 34.12%.
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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