Fulton Bank N.A. lessened its holdings in shares of State Street Co. (NYSE:STT – Get Rating) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,502 shares of the asset manager's stock after selling 370 shares during the period. Fulton Bank N.A.'s holdings in State Street were worth $427,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of State Street by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager's stock worth $2,997,806,000 after purchasing an additional 146,048 shares during the last quarter. State Street Corp raised its holdings in State Street by 7.9% in the 3rd quarter. State Street Corp now owns 18,758,945 shares of the asset manager's stock valued at $1,152,445,000 after acquiring an additional 1,365,681 shares in the last quarter. LSV Asset Management raised its holdings in State Street by 0.8% in the 3rd quarter. LSV Asset Management now owns 3,608,913 shares of the asset manager's stock valued at $219,458,000 after acquiring an additional 29,500 shares in the last quarter. Nordea Investment Management AB raised its holdings in State Street by 5.5% in the 2nd quarter. Nordea Investment Management AB now owns 3,572,222 shares of the asset manager's stock valued at $216,905,000 after acquiring an additional 185,913 shares in the last quarter. Finally, Coho Partners Ltd. raised its holdings in State Street by 3.9% in the 3rd quarter. Coho Partners Ltd. now owns 2,584,916 shares of the asset manager's stock valued at $157,189,000 after acquiring an additional 96,321 shares in the last quarter. Institutional investors and hedge funds own 88.41% of the company's stock.
Get State Street alerts:State Street Stock Down 4.0 %
NYSE:STT opened at $71.77 on Friday. The stock's fifty day moving average price is $86.76 and its two-hundred day moving average price is $77.48. State Street Co. has a 52-week low of $58.62 and a 52-week high of $94.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.00 and a beta of 1.59.
State Street Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Monday, April 3rd will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, March 31st. State Street's dividend payout ratio is 35.05%.
Wall Street Analysts Forecast Growth
Several research firms have commented on STT. Morgan Stanley cut their price target on State Street from $96.00 to $95.00 and set an "equal weight" rating for the company in a report on Friday, March 10th. Credit Suisse Group upped their price objective on State Street from $76.00 to $84.00 and gave the company a "neutral" rating in a research note on Monday, January 23rd. Barclays upped their price objective on State Street from $95.00 to $116.00 and gave the company an "overweight" rating in a research note on Tuesday, January 3rd. Wells Fargo & Company upgraded State Street from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $88.00 to $98.00 in a research note on Monday, February 27th. Finally, StockNews.com began coverage on State Street in a research note on Thursday. They issued a "hold" rating on the stock. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, State Street currently has a consensus rating of "Hold" and an average price target of $88.68.
Insiders Place Their Bets
In other State Street news, EVP David C. Phelan sold 15,000 shares of the company's stock in a transaction on Friday, February 24th. The stock was sold at an average price of $86.63, for a total transaction of $1,299,450.00. Following the transaction, the executive vice president now owns 72,491 shares of the company's stock, valued at approximately $6,279,895.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP John Plansky sold 11,168 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $92.22, for a total value of $1,029,912.96. Following the transaction, the executive vice president now owns 42,455 shares of the company's stock, valued at approximately $3,915,200.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David C. Phelan sold 15,000 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $86.63, for a total value of $1,299,450.00. Following the completion of the transaction, the executive vice president now directly owns 72,491 shares in the company, valued at approximately $6,279,895.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,893 shares of company stock valued at $2,923,987. 0.25% of the stock is currently owned by corporate insiders.
State Street Company Profile
(Get Rating)
State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.
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