State Street Co. (NYSE:STT) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in shares of State Street Co. (NYSE:STT) by 90.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,010 shares of the asset manager’s stock after purchasing an additional 5,220 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in State Street were worth $1,081,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Adero Partners LLC lifted its holdings in shares of State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after purchasing an additional 100 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in shares of State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after purchasing an additional 103 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after purchasing an additional 121 shares during the period. Apollon Wealth Management LLC lifted its holdings 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 worth $986,000 after purchasing an additional 138 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Up 0.0 %

Shares of STT stock opened at $85.76 on Thursday. 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 Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.11 and a beta of 1.44. The stock has a 50 day simple moving average of $97.18 and a 200-day simple moving average of $94.09.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.20.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was 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 represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were 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 owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street 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.