Robeco Institutional Asset Management B.V. Decreases Stock Position in State Street Co. (NYSE:STT)

Robeco Institutional Asset Management B.V. lowered its stake in State Street Co. (NYSE:STT – Get Rating) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,458 shares of the asset manager’s stock after selling 2,950 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in State Street were worth $12,919,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of State Street by 3.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 88,280 shares of the asset manager’s stock worth $5,368,000 after purchasing an additional 2,719 shares during the last quarter. Forsta AP Fonden grew its stake in shares of State Street by 6.4% in the second quarter. Forsta AP Fonden now owns 84,200 shares of the asset manager’s stock worth $5,191,000 after purchasing an additional 5,100 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of State Street by 25.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 15,760 shares of the asset manager’s stock worth $972,000 after purchasing an additional 3,180 shares during the last quarter. Pathstone Family Office LLC grew its stake in shares of State Street by 36.1% in the third quarter. Pathstone Family Office LLC now owns 15,008 shares of the asset manager’s stock worth $924,000 after purchasing an additional 3,978 shares during the last quarter. Finally, Crumly & Associates Inc. grew its stake in shares of State Street by 14.9% in the third quarter. Crumly & Associates Inc. now owns 4,499 shares of the asset manager’s stock worth $274,000 after purchasing an additional 583 shares during the last quarter. 88.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on State Street in a research note on Wednesday, January 4th. They issued a “neutral” rating on the stock. Morgan Stanley cut their price objective on State Street from $96.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, March 10th. Wells Fargo & Company raised State Street from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $88.00 to $98.00 in a research report on Monday, February 27th. Barclays lifted their price objective on State Street from $95.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Finally, StockNews.com began coverage on State Street in a research report on Thursday. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus target price of $88.68.

State Street Price Performance

STT stock opened at $71.77 on Friday. The firm has a 50 day moving average price of $86.76 and a 200-day moving average price of $77.48. State Street Co. has a 52-week low of $58.62 and a 52-week high of $94.74. The firm has a market capitalization of $24.72 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.00 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.56 and a current ratio of 0.56.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Monday, April 3rd will be issued a $0.63 dividend. The ex-dividend date is Friday, March 31st. This represents a $2.52 dividend on an annualized basis and a yield of 3.51%. State Street’s payout ratio is currently 35.05%.

Insider Buying and Selling

In related news, CAO Ian Appleyard sold 6,725 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $88.42, for a total value of $594,624.50. Following the completion of the transaction, the chief accounting officer now directly owns 14,493 shares in the company, valued at approximately $1,281,471.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP David C. Phelan sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $86.63, for a total value of $1,299,450.00. Following the completion of the transaction, the executive vice president now directly owns 72,491 shares in the company, valued at approximately $6,279,895.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ian Appleyard sold 6,725 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $88.42, for a total transaction of $594,624.50. Following the completion of the transaction, the chief accounting officer now owns 14,493 shares of the company’s stock, valued at $1,281,471.06. The disclosure for this sale can be found here. Insiders sold a total of 32,893 shares of company stock worth $2,923,987 in the last three months. Insiders own 0.25% of the company’s stock.

About State Street

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State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.