State Street Corp (STT) Stake Increased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in State Street Corp (NYSE:STT) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,060,002 shares of the asset manager’s stock after acquiring an additional 156,597 shares during the quarter. Wells Fargo & Company MN owned approximately 0.29% of State Street worth $103,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STT. Mutual of America Capital Management LLC grew its stake in shares of State Street by 8.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 46,905 shares of the asset manager’s stock worth $4,481,000 after acquiring an additional 3,734 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of State Street by 48.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 75,979 shares of the asset manager’s stock worth $7,259,000 after buying an additional 24,646 shares during the last quarter. Fisher Asset Management LLC purchased a new position in shares of State Street in the 3rd quarter worth about $224,000. Meeder Asset Management Inc. boosted its holdings in shares of State Street by 72.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,208 shares of the asset manager’s stock worth $593,000 after buying an additional 2,613 shares during the last quarter. Finally, Denali Advisors LLC boosted its holdings in shares of State Street by 90.6% in the 3rd quarter. Denali Advisors LLC now owns 12,415 shares of the asset manager’s stock worth $1,186,000 after buying an additional 5,900 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

In other news, CEO Joseph L. Hooley sold 33,568 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeff D. Conway sold 747 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $103.07, for a total transaction of $76,993.29. The disclosure for this sale can be found here. Insiders have sold 37,810 shares of company stock worth $3,882,978 over the last quarter. Company insiders own 0.71% of the company’s stock.

STT has been the topic of several recent research reports. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Thursday, January 25th. Morgan Stanley upped their price objective on shares of State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Citigroup raised shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Wednesday, January 10th. Barclays upped their price objective on shares of State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, ValuEngine downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $106.69.

State Street Corp (STT) opened at $103.96 on Thursday. State Street Corp has a 52-week low of $75.27 and a 52-week high of $114.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.49. The company has a market cap of $38,158.39, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 1.69 and a beta of 1.31.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. equities research analysts predict that State Street Corp will post 7.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, March 29th. State Street’s payout ratio is currently 32.12%.

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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.

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

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