State Street Corp (STT) Stake Increased by Sei Investments Co.

Sei Investments Co. grew its holdings in State Street Corp (NYSE:STT) by 8.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 942,811 shares of the asset manager’s stock after acquiring an additional 72,330 shares during the period. Sei Investments Co.’s holdings in State Street were worth $92,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation lifted its position in shares of State Street by 318.0% in the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after buying an additional 795 shares during the last quarter. NuWave Investment Management LLC acquired a new stake in shares of State Street in the fourth quarter valued at approximately $107,000. Legacy Advisors LLC lifted its position in shares of State Street by 835.8% in the fourth quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock valued at $112,000 after buying an additional 1,028 shares during the last quarter. BB&T Corp acquired a new stake in shares of State Street in the fourth quarter valued at approximately $203,000. Finally, Sabal Trust CO acquired a new stake in shares of State Street in the third quarter valued at approximately $201,000. 88.46% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on STT. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating and set a $109.00 price objective for the company. in a research report on Friday, January 5th. ValuEngine cut State Street from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Citigroup raised State Street from a “neutral” rating to a “buy” rating and set a $102.00 price target for the company in a report on Wednesday, January 10th. Morgan Stanley lifted their price target on State Street from $105.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Finally, Barclays lifted their price target on State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. State Street currently has a consensus rating of “Buy” and a consensus price target of $106.69.

Shares of State Street Corp (NYSE:STT) opened at $101.78 on Tuesday. The firm has a market capitalization of $36,768.68, a P/E ratio of 19.46, a P/E/G ratio of 1.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.49. State Street Corp has a fifty-two week low of $75.27 and a fifty-two week high of $114.27.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. analysts predict that State Street Corp will post 7.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were issued a $0.42 dividend. The ex-dividend date was Friday, December 29th. This represents a $1.68 annualized dividend and a yield of 1.65%. State Street’s dividend payout ratio is presently 32.12%.

In other State Street news, insider Andrew Erickson sold 354 shares of State Street stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total value of $32,568.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by insiders.

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State Street Company 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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Institutional Ownership by Quarter for State Street (NYSE:STT)

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