American Century Companies Inc. Acquires 7,833 Shares of State Street Co. (NYSE:STT)

American Century Companies Inc. lifted its holdings in shares of State Street Co. (NYSE:STT) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 335,668 shares of the asset manager’s stock after purchasing an additional 7,833 shares during the quarter. American Century Companies Inc.’s holdings in State Street were worth $32,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities USA LLC increased its holdings in State Street by 43.5% during the fourth quarter. Mizuho Securities USA LLC now owns 27,784 shares of the asset manager’s stock worth $2,727,000 after buying an additional 8,420 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of State Street during the 4th quarter valued at approximately $105,000. Northwest & Ethical Investments L.P. increased its stake in shares of State Street by 141.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,590 shares of the asset manager’s stock worth $2,315,000 after purchasing an additional 13,838 shares during the last quarter. Magnetar Financial LLC raised its holdings in shares of State Street by 77.0% in the 4th quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager’s stock worth $409,000 after purchasing an additional 1,813 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in State Street by 102.3% in the fourth quarter. Teacher Retirement System of Texas now owns 428,383 shares of the asset manager’s stock valued at $42,046,000 after purchasing an additional 216,583 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STT. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Wells Fargo & Company decreased their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.53.

State Street Trading Down 3.1 %

State Street stock opened at $88.95 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a market cap of $25.66 billion, a P/E ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. The firm’s fifty day moving average price is $95.35 and its 200-day moving average price is $94.40.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 EPS. Equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.