Foster & Motley Inc. Takes Position in State Street Co. (NYSE:STT)

Foster & Motley Inc. bought a new stake in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,121 shares of the asset manager’s stock, valued at approximately $242,000.

Other institutional investors also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in State Street by 0.3% in the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after buying an additional 29,190 shares in the last quarter. Northern Trust Corp increased its stake in shares of State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after acquiring an additional 180,093 shares during the last quarter. Metropolis Capital Ltd increased its position in State Street by 18.4% during the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after buying an additional 537,431 shares during the last quarter. Deutsche Bank AG increased its position in State Street by 1.1% during the third quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock worth $147,223,000 after buying an additional 23,506 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in State Street by 0.5% during the fourth quarter. Nordea Investment Management AB now owns 1,689,793 shares of the asset manager’s stock worth $131,128,000 after buying an additional 8,142 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STT has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Evercore ISI increased their target price on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. UBS Group raised their price target on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley raised their price objective on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.04.

Insider Activity at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock valued at $1,390,597 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $73.28 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a market cap of $22.13 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.32 and a beta of 1.52. The firm has a 50 day simple moving average of $74.14 and a 200 day simple moving average of $72.68. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

State Street Company Profile

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