State Street Co. (NYSE:STT) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board grew its holdings in State Street Co. (NYSE:STT) by 27.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,149 shares of the asset manager’s stock after buying an additional 2,182 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in State Street were worth $996,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. MML Investors Services LLC boosted its position in shares of State Street by 6.1% in the 3rd quarter. MML Investors Services LLC now owns 11,236 shares of the asset manager’s stock worth $994,000 after buying an additional 642 shares in the last quarter. Sanctuary Advisors LLC increased its position in State Street by 6.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,700 shares of the asset manager’s stock worth $1,433,000 after purchasing an additional 860 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in State Street in the 3rd quarter valued at about $1,125,000. Synovus Financial Corp grew its holdings in shares of State Street by 10.3% during the third quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager’s stock worth $1,179,000 after buying an additional 1,247 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its position in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after buying an additional 103 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Down 2.1 %

STT stock opened at $79.68 on Thursday. The stock has a market cap of $22.99 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm’s 50-day simple moving average is $89.91 and its 200 day simple moving average is $93.80. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The company 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% compared to the same quarter last year. During the same quarter last year, the business earned $2.04 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.82%. The ex-dividend date was Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Analyst Ratings Changes

A number of analysts have issued reports on STT shares. Wells Fargo & Company decreased their price target on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Bank of America boosted their price objective on State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.69.

Insiders Place Their Bets

In related news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated 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 transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.