3,792 Shares in State Street Co. (NYSE:STT) Purchased by Team Hewins LLC

by · The Markets Daily

Team Hewins LLC purchased a new position in State Street Co. (NYSE:STT – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,792 shares of the asset manager’s stock, valued at approximately $296,000.

Several other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in State Street by 0.3% in the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after purchasing an additional 29,190 shares during the last quarter. Northern Trust Corp lifted its stake in State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after purchasing an additional 180,093 shares during the last quarter. LSV Asset Management lifted its stake in State Street by 0.7% in the fourth quarter. LSV Asset Management now owns 3,658,731 shares of the asset manager’s stock worth $283,405,000 after purchasing an additional 23,756 shares during the last quarter. Metropolis Capital Ltd lifted its stake in State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after purchasing an additional 537,431 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in State Street by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock worth $201,243,000 after purchasing an additional 79,746 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.8 %

NYSE:STT traded up $0.58 during trading hours on Friday, reaching $75.39. The company’s stock had a trading volume of 1,310,269 shares, compared to its average volume of 2,005,812. The company has a market capitalization of $22.71 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.51. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a 50 day moving average price of $75.28 and a two-hundred day moving average price of $74.22.

State Street (NYSE:STT – Get Free Report) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. Equities analysts predict that State Street Co. will post 7.95 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio (DPR) is 51.69%.

Insider Buying and Selling

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STT shares. JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. UBS Group lifted their price target on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Argus lifted their price target on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Morgan Stanley lifted their price target on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Evercore ISI lifted their price target on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.04.

Check Out Our Latest Analysis on State Street

State Street Profile

(Free Report)

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.

Further Reading

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