State Street Co. (NYSE:STT) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its holdings in State Street Co. (NYSE:STT) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,350 shares of the asset manager’s stock after purchasing an additional 193 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in State Street were worth $260,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC acquired a new stake in State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC raised its stake in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street in the fourth quarter valued at approximately $35,000. Bruce G. Allen Investments LLC acquired a new position in State Street during the fourth quarter worth $51,000. Finally, GAMMA Investing LLC purchased a new position in State Street in the fourth quarter worth $75,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 in the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and increased their target price for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Evercore ISI boosted their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Bank of America reaffirmed an “underperform” rating and issued a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Finally, Royal Bank of Canada boosted their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $84.04.

State Street Stock Up 0.1 %

STT opened at $73.39 on Monday. The firm has a market cap of $22.16 billion, a P/E ratio of 13.74, a PEG ratio of 1.30 and a beta of 1.52. The business’s fifty day simple moving average is $74.16 and its 200 day simple moving average is $72.85. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. State Street’s dividend payout ratio (DPR) is 51.69%.

State Street 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.