State Street Co. (NYSE:STT) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its stake in shares of State Street Co. (NYSE:STTFree Report) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,284 shares of the asset manager’s stock after buying an additional 545 shares during the period. Oppenheimer & Co. Inc.’s holdings in State Street were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in STT. Norges Bank purchased a new stake in State Street during the fourth quarter worth about $184,482,000. Morgan Stanley raised its position in State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after acquiring an additional 1,430,237 shares during the last quarter. Eaton Vance Management raised its position in State Street by 159.8% during the first quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after acquiring an additional 1,077,013 shares during the last quarter. AustralianSuper Pty Ltd raised its position in State Street by 327.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after acquiring an additional 1,015,022 shares during the last quarter. Finally, Private Management Group Inc. acquired a new position in State Street during the third quarter worth about $36,022,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $72.84 on Friday. State Street Co. has a one year low of $62.78 and a one year high of $94.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.55. The company has a 50 day moving average price of $75.56 and a 200 day moving average price of $71.01. The firm has a market capitalization of $22.48 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

State Street (NYSE:STTGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. State Street had a net margin of 10.59% and a return on equity of 11.86%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business posted $2.07 earnings per share. State Street’s revenue for the quarter was down 3.5% compared to the same quarter last year. Sell-side analysts anticipate that State Street Co. will post 7.84 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.69 per share. The ex-dividend date was Friday, December 29th. This represents a $2.76 annualized dividend and a yield of 3.79%. State Street’s dividend payout ratio is currently 50.27%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company restated an “overweight” rating and set a $83.00 target price on shares of State Street in a research report on Wednesday, December 6th. UBS Group lifted their target price on shares of State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Bank of America reissued an “underperform” rating and issued a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th. Barclays boosted their price objective on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $81.83.

Check Out Our Latest Report on State Street

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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