State Street Co. (NYSE:STT) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in State Street Co. (NYSE:STT) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 720,909 shares of the asset manager’s stock after purchasing an additional 254,510 shares during the period. Bank of Montreal Can’s holdings in State Street were worth $70,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of State Street in the fourth quarter worth $161,021,000. FMR LLC grew its holdings in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after acquiring an additional 870,849 shares in the last quarter. Amundi grew its holdings in State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after acquiring an additional 561,773 shares in the last quarter. Wellington Management Group LLP increased its position in shares of State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of State Street in the 4th quarter valued at about $44,070,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STT. 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. Citigroup lowered their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, State Street has an average rating of “Hold” and a consensus price target of $101.07.

State Street Price Performance

Shares of NYSE STT opened at $75.01 on Wednesday. The firm’s 50-day simple moving average is $92.58 and its 200 day simple moving average is $94.25. The stock has a market cap of $21.65 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.11 and a beta of 1.42. 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 Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the firm posted $2.04 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

Insider Activity

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.