Nomura Asset Management Co. Ltd. Acquires 185 Shares of State Street Co. (NYSE:STT)

Nomura Asset Management Co. Ltd. lifted its stake in State Street Co. (NYSE:STT) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,432 shares of the asset manager’s stock after purchasing an additional 185 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in State Street were worth $8,974,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of State Street by 0.6% during the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after acquiring an additional 41,442 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in State Street by 30.4% in 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 purchasing an additional 1,354,560 shares in the last quarter. Amundi increased its holdings in State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares during the period. Franklin Resources Inc. raised its position in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of State Street by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock worth $214,998,000 after buying an additional 381,260 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

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

State Street Stock Performance

Shares of State Street stock opened at $89.62 on Tuesday. The company has a 50 day moving average price of $95.20 and a 200 day moving average price of $94.61. The firm has a market capitalization of $25.85 billion, a P/E ratio of 10.88, a PEG ratio of 1.11 and a beta of 1.44. 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 Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley reduced their price target on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Citigroup dropped their target price on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus price target of $101.53.

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.