LSV Asset Management Boosts Stock Holdings in State Street Co. (NYSE:STT)

LSV Asset Management grew its position in State Street Co. (NYSE:STT) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,658,731 shares of the asset manager’s stock after acquiring an additional 23,756 shares during the quarter. LSV Asset Management owned about 1.19% of State Street worth $283,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STT. AustralianSuper Pty Ltd raised its holdings in State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock valued at $88,750,000 after acquiring an additional 1,015,022 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of State Street in the fourth quarter valued at approximately $45,687,000. Private Management Group Inc. purchased a new position in State Street during the third quarter worth approximately $36,022,000. Metropolis Capital Ltd boosted its stake in State Street by 18.4% during the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after buying an additional 537,431 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of State Street by 122.8% in the 3rd quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager’s stock worth $59,242,000 after acquiring an additional 487,671 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STT has been the topic of several recent research reports. UBS Group boosted their price target on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Morgan Stanley raised their price target on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Argus upped their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.04.

Insiders Place Their Bets

In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the transaction, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock worth $1,390,597 in the last ninety days. 0.31% of the stock is owned by corporate insiders.

State Street Trading Up 1.6 %

NYSE:STT traded up $1.19 on Friday, reaching $74.39. 1,623,097 shares of the company’s stock were exchanged, compared to its average volume of 2,916,756. The firm has a market capitalization of $22.46 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $74.26 and a 200-day moving average of $73.04.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is currently 51.69%.

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.