AGF Management Ltd. Buys 2,193 Shares of State Street Co. (NYSE:STT)

AGF Management Ltd. increased its stake in State Street Co. (NYSE:STT) by 27.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,065 shares of the asset manager’s stock after buying an additional 2,193 shares during the quarter. AGF Management Ltd.’s holdings in State Street were worth $988,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in shares of State Street in the fourth quarter worth $25,000. Y.D. More Investments Ltd boosted its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in State Street in the 4th quarter worth about $42,000. Coastline Trust Co purchased a new stake in State Street during the 3rd quarter valued at about $44,000. Finally, Friedenthal Financial bought a new stake in State Street during the 4th quarter valued at about $49,000. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on 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 set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, State Street has an average rating of “Hold” and an average target price of $101.20.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction 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 transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $86.90 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $25.07 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm’s 50 day moving average price is $96.69 and its 200-day moving average price is $94.04. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The business 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 company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.04 EPS. Equities research analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

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.