Addenda Capital Inc. lowered its position in shares of State Street Corp (NYSE:STT) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,671 shares of the asset manager’s stock after selling 5,150 shares during the quarter. Addenda Capital Inc.’s holdings in State Street were worth $8,559,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of State Street by 1.9% during the second quarter. Vanguard Group Inc. now owns 24,022,695 shares of the asset manager’s stock valued at $2,155,556,000 after acquiring an additional 448,658 shares during the period. FMR LLC raised its holdings in shares of State Street by 10.8% during the second quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock valued at $1,793,591,000 after acquiring an additional 1,940,536 shares during the period. Longview Partners Guernsey LTD raised its holdings in shares of State Street by 6.5% during the third quarter. Longview Partners Guernsey LTD now owns 8,062,726 shares of the asset manager’s stock valued at $770,313,000 after acquiring an additional 493,244 shares during the period. Capital International Investors raised its holdings in shares of State Street by 63.3% during the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock valued at $551,383,000 after acquiring an additional 2,237,595 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in shares of State Street by 44.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock valued at $427,133,000 after acquiring an additional 1,383,249 shares during the period. Institutional investors and hedge funds own 88.13% of the company’s stock.
Shares of State Street Corp (STT) traded up $1.53 on Friday, reaching $105.78. 1,637,000 shares of the company were exchanged, compared to its average volume of 1,465,350. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $39,230.00, a P/E ratio of 18.30, a PEG ratio of 1.49 and a beta of 1.35. State Street Corp has a 52-week low of $74.45 and a 52-week high of $105.85.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, December 29th. State Street’s dividend payout ratio is 29.07%.
STT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Morgan Stanley boosted their price objective on shares of State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Tuesday, December 12th. Royal Bank of Canada lowered their price objective on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $100.00 price objective on shares of State Street in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $101.13.
In other State Street news, insider Andrew Erickson sold 354 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph L. Hooley sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total transaction of $2,315,000.00. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock valued at $2,659,741 over the last three months. Insiders own 0.71% of the company’s stock.
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State Street Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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