Country Trust Bank lifted its position in shares of State Street Corp (NYSE:STT) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,284 shares of the asset manager’s stock after acquiring an additional 1,428 shares during the quarter. State Street makes up approximately 1.9% of Country Trust Bank’s portfolio, making the stock its 14th biggest position. Country Trust Bank owned 0.12% of State Street worth $43,367,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in State Street by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 24,022,695 shares of the asset manager’s stock worth $2,155,556,000 after buying an additional 448,658 shares during the period. FMR LLC lifted its holdings in State Street by 10.8% during the 2nd quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock worth $1,793,591,000 after buying an additional 1,940,536 shares during the period. Longview Partners Guernsey LTD lifted its holdings in State Street by 6.5% during the 3rd quarter. Longview Partners Guernsey LTD now owns 8,062,726 shares of the asset manager’s stock worth $770,313,000 after buying an additional 493,244 shares during the period. Capital International Investors lifted its holdings in State Street by 63.3% during the 3rd quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after buying an additional 2,237,595 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in State Street by 44.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock worth $427,133,000 after buying an additional 1,383,249 shares during the period. 88.13% of the stock is currently owned by institutional investors.
In related news, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph L. Hooley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. Insiders sold a total of 28,724 shares of company stock valued at $2,659,741 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.
Several research analysts have commented on the company. Citigroup raised State Street from a “neutral” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Wednesday. Royal Bank of Canada cut their target price on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $114.00 target price on shares of State Street in a report on Friday, December 22nd. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating and set a $109.00 target price on the stock. in a report on Friday, January 5th. Finally, Vining Sparks reissued a “buy” rating and issued a $120.00 price objective on shares of State Street in a research report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $101.13.
State Street Corp (NYSE:STT) traded up $2.85 during mid-day trading on Thursday, hitting $104.25. The stock had a trading volume of 1,827,400 shares, compared to its average volume of 1,440,829. State Street Corp has a 1 year low of $74.45 and a 1 year high of $104.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $38,960.00, a price-to-earnings ratio of 18.04, a PEG ratio of 1.49 and a beta of 1.35.
State Street (NYSE:STT) last posted its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.10. State Street had a return on equity of 13.03% and a net margin of 20.56%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $1.35 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts forecast that State Street Corp will post 6.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, December 29th. State Street’s payout ratio is 29.07%.
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About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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