LSV Asset Management Raises Position in State Street Co. (NYSE:STT)

LSV Asset Management increased its holdings in State Street Co. (NYSE:STT) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,658,731 shares of the asset manager’s stock after purchasing an additional 23,756 shares during the period. LSV Asset Management’s holdings in State Street were worth $283,405,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in STT. Banque Cantonale Vaudoise increased its stake in shares of State Street by 54.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 3,841 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in State Street during the fourth quarter worth approximately $45,687,000. Crestwood Advisors Group LLC raised its stake in State Street by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after purchasing an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of State Street by 3.7% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock valued at $37,522,000 after purchasing an additional 17,270 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of State Street by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after buying an additional 12,594 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STT. UBS Group increased their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Royal Bank of Canada increased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.04.

Insider Buying and Selling

In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Up 1.6 %

STT traded up $1.19 during trading hours on Friday, reaching $74.39. 1,623,097 shares of the stock traded hands, compared to its average volume of 2,916,756. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm’s fifty day simple moving average is $74.26 and its two-hundred day simple moving average is $73.04.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is 51.69%.

State Street Company 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.