Capital International Investors Has $542.51 Million Stake in State Street Co. (NYSE:STT)

Capital International Investors raised its stake in shares of State Street Co. (NYSE:STT) by 0.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,527,115 shares of the asset manager’s stock after acquiring an additional 12,537 shares during the quarter. Capital International Investors’ holdings in State Street were worth $542,505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STT. MML Investors Services LLC boosted its position in State Street by 6.1% during the third quarter. MML Investors Services LLC now owns 11,236 shares of the asset manager’s stock worth $994,000 after purchasing an additional 642 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of State Street by 6.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,700 shares of the asset manager’s stock worth $1,433,000 after buying an additional 860 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in State Street in the 3rd quarter valued at $1,125,000. Synovus Financial Corp raised its holdings in State Street by 10.3% in the 3rd quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager’s stock worth $1,179,000 after acquiring an additional 1,247 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its position in State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a “buy” rating in a research report on Thursday. Citigroup cut their target price on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Morgan Stanley dropped their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, State Street has a consensus rating of “Hold” and a consensus price target of $103.54.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $81.39 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day simple moving average is $89.24 and its 200 day simple moving average is $93.71. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $1.69 EPS. On average, analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.74%. State Street’s dividend payout ratio (DPR) is presently 34.12%.

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.