Capital Research Global Investors Purchases 20,825 Shares of State Street Co. (NYSE:STT)

Capital Research Global Investors grew its position in State Street Co. (NYSE:STT) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 914,141 shares of the asset manager’s stock after buying an additional 20,825 shares during the period. Capital Research Global Investors’ holdings in State Street were worth $89,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Curi RMB Capital LLC bought a new position in State Street during the fourth quarter worth about $207,000. First Trust Advisors LP boosted its stake in shares of State Street by 8.7% during the 4th quarter. First Trust Advisors LP now owns 656,374 shares of the asset manager’s stock worth $64,423,000 after acquiring an additional 52,380 shares during the period. Forum Financial Management LP increased its holdings in shares of State Street by 5.5% during the 4th quarter. Forum Financial Management LP now owns 4,483 shares of the asset manager’s stock worth $440,000 after acquiring an additional 232 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in State Street in the 4th quarter valued at $823,000. Finally, Canada Pension Plan Investment Board lifted its holdings in State Street by 31.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 449,595 shares of the asset manager’s stock valued at $44,128,000 after purchasing an additional 106,565 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other State Street news, 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 owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

State Street Stock Up 2.2 %

Shares of NYSE STT opened at $81.39 on Monday. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The stock’s fifty day moving average is $89.24 and its 200 day moving average is $93.82. 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 capitalization of $23.49 billion, a P/E ratio of 9.88, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the prior year, the firm posted $1.69 EPS. 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 declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.74%. State Street’s payout ratio is 34.12%.

Wall Street Analysts Forecast Growth

Several research firms have commented on STT. Bank of America upped their price objective on shares of State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. The Goldman Sachs Group set a $98.00 target price on State Street and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup reduced their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus price target of $103.54.

About State Street

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.