State Street Co. (NYSE:STT) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of State Street Co. (NYSE:STT) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,193,687 shares of the asset manager’s stock after purchasing an additional 24,617 shares during the period. Geode Capital Management LLC’s holdings in State Street were worth $704,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Townsquare Capital LLC purchased a new stake in State Street in the third quarter valued at approximately $351,000. Rockefeller Capital Management L.P. increased its holdings in shares of State Street by 14.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 24,631 shares of the asset manager’s stock valued at $2,176,000 after acquiring an additional 3,037 shares during the period. Verition Fund Management LLC raised its position in State Street by 57.3% in the 3rd quarter. Verition Fund Management LLC now owns 39,854 shares of the asset manager’s stock valued at $3,526,000 after purchasing an additional 14,517 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in State Street by 12.8% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,152 shares of the asset manager’s stock worth $367,000 after purchasing an additional 472 shares during the period. Finally, Investment Management Corp of Ontario grew its position in State Street by 36.0% during the 3rd quarter. Investment Management Corp of Ontario now owns 12,084 shares of the asset manager’s stock worth $1,069,000 after purchasing an additional 3,200 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Performance

Shares of STT stock opened at $89.67 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $25.87 billion, a PE ratio of 10.88, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The stock has a fifty day moving average price of $94.85 and a 200 day moving average price of $94.62.

State Street (NYSE:STT) last released its quarterly earnings data 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 net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the firm earned $2.04 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.39%. State Street’s dividend payout ratio (DPR) is 36.89%.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Bank of America lifted their target price on State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $102.07.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.