Pacer Advisors Inc. Has $3.89 Million Holdings in State Street Co. (NYSE:STT)

Pacer Advisors Inc. boosted its holdings in State Street Co. (NYSE:STT) by 78.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,613 shares of the asset manager’s stock after purchasing an additional 17,464 shares during the quarter. Pacer Advisors Inc.’s holdings in State Street were worth $3,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of STT. KBC Group NV lifted its position in State Street by 23.8% during the fourth quarter. KBC Group NV now owns 92,484 shares of the asset manager’s stock worth $9,077,000 after purchasing an additional 17,804 shares during the period. Blue Trust Inc. boosted its holdings in shares of State Street by 10.0% in the 4th quarter. Blue Trust Inc. now owns 4,898 shares of the asset manager’s stock valued at $481,000 after purchasing an additional 446 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of State Street during the 4th quarter worth $272,000. AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of State Street by 8.2% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 338,961 shares of the asset manager’s stock worth $33,286,000 after buying an additional 25,802 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in State Street by 0.9% in the fourth quarter. Fifth Third Bancorp now owns 72,321 shares of the asset manager’s stock valued at $7,098,000 after buying an additional 676 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Up 1.3 %

Shares of State Street stock opened at $102.20 on Friday. The stock’s 50-day moving average is $98.31 and its 200 day moving average is $90.97. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The firm has a market cap of $29.96 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.11 and a beta of 1.43. 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) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 earnings per share. Equities research analysts anticipate that State Street Co. will post 9.43 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.97%. State Street’s dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.73.

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.