Dimensional Fund Advisors LP Acquires 79,746 Shares of State Street Co. (NYSE:STT)

Dimensional Fund Advisors LP grew its stake in shares of State Street Co. (NYSE:STTFree Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,597,783 shares of the asset manager’s stock after purchasing an additional 79,746 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.84% of State Street worth $201,243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STT. Raymond James & Associates increased its holdings in State Street by 23.2% during the 3rd quarter. Raymond James & Associates now owns 74,589 shares of the asset manager’s stock worth $4,994,000 after purchasing an additional 14,067 shares during the period. Park Avenue Securities LLC purchased a new stake in State Street in the third quarter worth about $452,000. Assetmark Inc. grew its holdings in State Street by 12.4% during the 3rd quarter. Assetmark Inc. now owns 3,475 shares of the asset manager’s stock worth $233,000 after acquiring an additional 384 shares in the last quarter. Fifth Third Bancorp increased its position in State Street by 7.4% during the 3rd quarter. Fifth Third Bancorp now owns 54,176 shares of the asset manager’s stock valued at $3,628,000 after purchasing an additional 3,714 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of State Street by 13.8% in the 3rd quarter. Allworth Financial LP now owns 2,058 shares of the asset manager’s stock valued at $138,000 after purchasing an additional 250 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Price Performance

Shares of STT opened at $77.57 on Thursday. The firm has a market capitalization of $23.37 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.35 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. The company’s fifty day moving average price is $74.71 and its 200-day moving average price is $73.70. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street (NYSE:STTGet Free Report) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, equities research analysts predict that State Street Co. will post 7.96 EPS for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.56%. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Analyst Ratings Changes

STT has been the subject of a number of recent research reports. Argus boosted their price objective on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note 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 report on Friday, April 12th. Morgan Stanley increased their price target on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Royal Bank of Canada lifted their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Two equities research 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.04.

View Our Latest Analysis on STT

Insider Activity

In related news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on 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 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.

State Street 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; 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.

See Also

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

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