State Street Co. (NYSE:STT) Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its position in shares of State Street Co. (NYSE:STT) by 17.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,178 shares of the asset manager’s stock after buying an additional 4,561 shares during the period. Elo Mutual Pension Insurance Co’s holdings in State Street were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after purchasing an additional 41,442 shares during the period. FMR LLC raised its holdings in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after buying an additional 1,354,560 shares during the last quarter. Amundi boosted its stake in State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after buying an additional 561,773 shares during the period. Finally, Franklin Resources Inc. boosted its stake in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after buying an additional 408,792 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 3.1 %

State Street stock opened at $88.95 on Friday. The stock has a market cap of $25.66 billion, a PE ratio of 10.80, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average is $95.35 and its two-hundred day moving average is $94.40. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations 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 was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 earnings per share. On average, sell-side analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

Analyst Ratings Changes

Several equities analysts have recently commented on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wells Fargo & Company decreased their price target on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Morgan Stanley lowered their target price on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average price target of $101.53.

Insider Activity at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.