State Street Co. (NYSE:STT) Shares Bought by V Square Quantitative Management LLC

V Square Quantitative Management LLC boosted its stake in shares of State Street Co. (NYSE:STT) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,761 shares of the asset manager’s stock after acquiring an additional 632 shares during the period. V Square Quantitative Management LLC’s holdings in State Street were worth $958,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of State Street in the fourth quarter valued at approximately $272,000. KBC Group NV boosted its stake in shares of State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares during the period. Merit Financial Group LLC acquired a new stake in State Street in the fourth quarter valued at approximately $395,000. Finally, Asset Management One Co. Ltd. raised its holdings in State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after acquiring an additional 20,183 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley cut their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Price Performance

Shares of NYSE:STT opened at $99.16 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The business has a fifty day simple moving average of $98.57 and a 200 day simple moving average of $92.10.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.04 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

State Street Company 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.