Y.D. More Investments Ltd Grows Stock Holdings in State Street Co. (NYSE:STT)

Y.D. More Investments Ltd raised its stake in shares of State Street Co. (NYSE:STT) by 116.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 366 shares of the asset manager’s stock after acquiring an additional 197 shares during the period. Y.D. More Investments Ltd’s holdings in State Street were worth $36,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC increased its stake in shares of State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the period. FMR LLC increased its position in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. Wellington Management Group LLP raised its stake in shares of State Street by 818.1% during the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after buying an additional 462,201 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of State Street by 99.4% in the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after buying an additional 442,725 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after buying an additional 408,792 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Evercore ISI increased their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.73.

State Street Stock Up 0.2 %

Shares of NYSE:STT opened at $99.51 on Friday. The company has a market capitalization of $29.17 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.14 and a beta of 1.43. The stock’s fifty day simple moving average is $98.50 and its 200-day simple moving average is $91.54. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $2.04 EPS. As a group, equities research analysts forecast that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.06%. State Street’s payout ratio is currently 36.89%.

About State Street

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.