Handelsbanken Fonder AB Has $9.72 Million Holdings in State Street Co. (NYSE:STT)

Handelsbanken Fonder AB increased its stake in shares of State Street Co. (NYSE:STT) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,464 shares of the asset manager’s stock after purchasing an additional 11,152 shares during the period. Handelsbanken Fonder AB’s holdings in State Street were worth $9,718,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in State Street by 0.3% during the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after acquiring an additional 29,190 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after purchasing an additional 180,093 shares in the last quarter. Metropolis Capital Ltd lifted its holdings in shares of State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after purchasing an additional 537,431 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of State Street by 1.1% in the third quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock valued at $147,223,000 after purchasing an additional 23,506 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of State Street by 0.5% in the fourth quarter. Nordea Investment Management AB now owns 1,689,793 shares of the asset manager’s stock valued at $131,128,000 after purchasing an additional 8,142 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

State Street stock opened at $74.29 on Thursday. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The stock’s 50 day moving average is $74.14 and its 200-day moving average is $72.68. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on STT. UBS Group lifted their target price on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley lifted their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods lowered their target price on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Evercore ISI lifted their target price on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Activity

In other news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at $1,294,801. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is owned by insiders.

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.