UBS Asset Management Americas Inc. raised its position in shares of State Street Corp (NYSE:STT) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,373,089 shares of the asset manager’s stock after purchasing an additional 192,477 shares during the period. UBS Asset Management Americas Inc. owned 0.37% of State Street worth $134,027,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation grew its holdings in State Street by 318.0% during the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 795 shares during the period. NuWave Investment Management LLC bought a new position in shares of State Street in the fourth quarter worth $107,000. Legacy Advisors LLC boosted its holdings 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 worth $112,000 after acquiring an additional 1,028 shares during the period. Sabal Trust CO bought a new position in shares of State Street in the third quarter worth $201,000. Finally, BB&T Corp bought a new position in shares of State Street in the fourth quarter worth $203,000. 89.15% of the stock is owned by institutional investors and hedge funds.
In other State Street news, CEO Joseph L. Hooley sold 33,568 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $102.65, for a total transaction of $3,445,755.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeff D. Conway sold 747 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $103.07, for a total value of $76,993.29. The disclosure for this sale can be found here. Insiders have sold 49,531 shares of company stock worth $5,146,169 in the last 90 days. Company insiders own 0.71% of the company’s stock.
State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 period in the prior year, the business posted $1.48 EPS. State Street’s quarterly revenue was up 8.5% on a year-over-year basis. equities analysts predict that State Street Corp will post 7.68 earnings per share for the current year.
The company 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. The ex-dividend date is Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.59%. State Street’s payout ratio is 28.38%.
A number of research firms have recently commented on STT. Buckingham Research raised their price target on State Street from $124.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating and set a $109.00 price target for the company. in a report on Friday, January 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $114.00 price target on shares of State Street in a report on Friday, December 22nd. Vining Sparks reaffirmed a “buy” rating and issued a $120.00 price target on shares of State Street in a report on Monday, January 8th. Finally, Morgan Stanley raised 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. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. State Street presently has a consensus rating of “Buy” and an average price target of $108.33.
About State Street
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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