Avanza Fonder AB Takes Position in State Street Co. (NYSE:STT)

Avanza Fonder AB bought a new stake in State Street Co. (NYSE:STT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,796 shares of the asset manager’s stock, valued at approximately $2,041,000.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after buying an additional 41,442 shares during the last quarter. FMR LLC increased its stake in State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. Metropolis Capital Ltd lifted its stake in State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after purchasing an additional 408,792 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STT. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and an average price target of $100.33.

State Street Stock Down 3.0 %

Shares of NYSE STT opened at $97.51 on Friday. The firm has a fifty day simple moving average of $97.72 and a two-hundred day simple moving average of $89.52. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $28.58 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. 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 analysts expect that State Street Co. will post 8.45 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. State Street’s dividend payout ratio is presently 48.03%.

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.