First Trust Direct Indexing L.P. Has $544,000 Stock Position in State Street Co. (NYSE:STT)

First Trust Direct Indexing L.P. boosted its position in State Street Co. (NYSE:STT) by 47.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,021 shares of the asset manager’s stock after buying an additional 2,247 shares during the period. First Trust Direct Indexing L.P.’s holdings in State Street were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its holdings in State Street by 54.9% in the third quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock worth $726,000 after purchasing an additional 3,841 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of State Street during the 4th quarter valued at $45,687,000. Crestwood Advisors Group LLC boosted its stake in State Street by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after acquiring an additional 8,202 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in State Street by 3.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after purchasing an additional 17,270 shares during the period. Finally, Federated Hermes Inc. increased its stake in State Street by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after purchasing an additional 12,594 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Stock Performance

Shares of STT stock opened at $74.39 on Monday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $22.41 billion, a P/E ratio of 13.93, a PEG ratio of 1.32 and a beta of 1.52. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm’s 50 day moving average is $74.26 and its 200 day moving average is $73.11.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. On average, sell-side analysts anticipate that State Street Co. will post 7.96 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.71%. State Street’s dividend payout ratio is presently 51.69%.

Analysts Set New Price Targets

STT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Argus increased their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Morgan Stanley lifted their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. UBS Group raised their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Evercore ISI upped their target price on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $84.04.

Insider Buying and Selling at State Street

In other news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction 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 transaction, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.