Jump Trading LLC purchased a new stake in shares of State Street Corp (NYSE:STT) during the fourth quarter, HoldingsChannel reports. The fund purchased 4,610 shares of the asset manager’s stock, valued at approximately $450,000.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of State Street by 7.9% in the fourth quarter. First Trust Advisors LP now owns 254,980 shares of the asset manager’s stock valued at $24,889,000 after acquiring an additional 18,704 shares during the period. California Public Employees Retirement System raised its stake in shares of State Street by 0.7% in the fourth quarter. California Public Employees Retirement System now owns 1,073,380 shares of the asset manager’s stock valued at $104,773,000 after acquiring an additional 7,607 shares during the period. Unio Capital LLC purchased a new stake in shares of State Street in the fourth quarter valued at $532,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of State Street by 7.4% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 696,179 shares of the asset manager’s stock valued at $66,513,000 after acquiring an additional 48,253 shares during the period. Finally, Twin Capital Management Inc. raised its stake in shares of State Street by 3.8% in the fourth quarter. Twin Capital Management Inc. now owns 90,250 shares of the asset manager’s stock valued at $8,809,000 after acquiring an additional 3,268 shares during the period. 88.38% of the stock is currently owned by institutional investors.

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Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. ValuEngine raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods set a $120.00 target price on shares of State Street and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America raised their price target on shares of State Street from $108.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. State Street has a consensus rating of “Buy” and a consensus price target of $108.33.

Shares of State Street Corp (NYSE:STT) opened at $105.83 on Tuesday. State Street Corp has a 1-year low of $75.27 and a 1-year high of $114.27. The firm has a market cap of $39,291.10, a PE ratio of 20.24, a PEG ratio of 1.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.49.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. sell-side analysts predict that State Street Corp will post 7.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, March 29th. State Street’s payout ratio is currently 32.12%.

In related news, EVP George E. Sullivan sold 3,495 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $103.07, for a total value of $360,229.65. Following the completion of the transaction, the executive vice president now directly owns 58,340 shares of the company’s stock, valued at approximately $6,013,103.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Elizabeth Schaefer sold 1,473 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $105.00, for a total transaction of $154,665.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,362 shares of the company’s stock, valued at $983,010. The disclosure for this sale can be found here. Insiders sold a total of 49,531 shares of company stock valued at $5,146,169 over the last ninety days. 0.71% of the stock is currently owned by insiders.

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State Street Company Profile

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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