Mirae Asset Global Investments Co. Ltd. Grows Position in State Street Co. (NYSE:STT)

Mirae Asset Global Investments Co. Ltd. grew its position in State Street Co. (NYSE:STT) by 19.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,472 shares of the asset manager’s stock after acquiring an additional 13,657 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in State Street were worth $8,113,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of State Street in the second quarter valued at about $1,016,000. Park Avenue Securities LLC raised its stake in State Street by 5.7% during the 3rd quarter. Park Avenue Securities LLC now owns 4,971 shares of the asset manager’s stock valued at $440,000 after acquiring an additional 267 shares during the last quarter. Czech National Bank lifted its position in State Street by 6.0% during the 3rd quarter. Czech National Bank now owns 60,832 shares of the asset manager’s stock worth $5,382,000 after acquiring an additional 3,424 shares during the period. GAMMA Investing LLC lifted its holdings in shares of State Street by 36.1% during the third quarter. GAMMA Investing LLC now owns 2,493 shares of the asset manager’s stock worth $221,000 after purchasing an additional 661 shares during the period. Finally, Mather Group LLC. increased its stake in State Street by 48.2% in the 3rd quarter. Mather Group LLC. now owns 2,390 shares of the asset manager’s stock valued at $211,000 after buying an additional 777 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Barclays raised their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and an average target price of $100.73.

State Street Stock Down 0.2 %

STT opened at $99.44 on Friday. The business’s fifty day simple moving average is $98.51 and its 200 day simple moving average is $91.60. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The firm has a market cap of $29.15 billion, a P/E ratio of 12.07, a PEG ratio of 1.14 and a beta of 1.43. 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 posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.27 billion. During the same quarter in the previous year, the business posted $2.04 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is 36.89%.

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.