State Street Co. (NYSE:STT) Position Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of State Street Co. (NYSE:STTFree Report) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 974,496 shares of the asset manager’s stock after selling 147,519 shares during the period. Massachusetts Financial Services Co. MA owned about 0.32% of State Street worth $65,252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of State Street by 0.4% during the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock valued at $2,997,806,000 after purchasing an additional 146,048 shares during the period. Capital International Investors increased its position in shares of State Street by 0.3% during the second quarter. Capital International Investors now owns 6,564,481 shares of the asset manager’s stock valued at $480,383,000 after purchasing an additional 19,254 shares during the period. Morgan Stanley increased its position in shares of State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock valued at $467,876,000 after purchasing an additional 1,430,237 shares during the period. JPMorgan Chase & Co. increased its position in shares of State Street by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock valued at $373,551,000 after purchasing an additional 469,309 shares during the period. Finally, Northern Trust Corp grew its position in State Street by 9.5% in the second quarter. Northern Trust Corp now owns 4,444,720 shares of the asset manager’s stock valued at $325,265,000 after acquiring an additional 385,360 shares during the period. 89.62% of the stock is currently owned by institutional investors.

State Street Price Performance

Shares of STT stock opened at $72.39 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.55. State Street Co. has a 52 week low of $62.78 and a 52 week high of $94.74. The stock has a market capitalization of $22.34 billion, a PE ratio of 13.19, a PEG ratio of 1.47 and a beta of 1.53. The stock’s fifty day moving average is $75.58 and its 200-day moving average is $71.00.

State Street (NYSE:STTGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a return on equity of 11.86% and a net margin of 10.59%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts expect that State Street Co. will post 7.79 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, December 29th. State Street’s dividend payout ratio (DPR) is presently 50.27%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STT shares. UBS Group upped their price target on State Street from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Bank of America reiterated an “underperform” rating and issued a $81.00 price target on shares of State Street in a research report on Thursday, January 4th. Morgan Stanley upped their price target on State Street from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Barclays upped their price target on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 price target on shares of State Street in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $81.83.

Read Our Latest Analysis on STT

State Street Company Profile

(Free Report)

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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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

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