University of Texas Texas AM Investment Management Co. lowered its position in shares of State Street Co. (NYSE:STT – Free Report) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,887 shares of the asset manager’s stock after selling 15,866 shares during the quarter. State Street makes up approximately 1.0% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 12th biggest holding. University of Texas Texas AM Investment Management Co.’s holdings in State Street were worth $8,135,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock worth $737,162,000 after purchasing an additional 406,396 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock valued at $704,238,000 after buying an additional 24,617 shares in the last quarter. FMR LLC raised its holdings in shares of State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock valued at $685,441,000 after buying an additional 870,849 shares during the last quarter. Amundi lifted its position 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 buying an additional 561,773 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock worth $407,166,000 after acquiring an additional 563,790 shares during the last quarter. 87.44% of the stock is owned by institutional investors.
Insider Transactions at State Street
In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares in the company, valued at $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on State Street
State Street Trading Up 0.8%
NYSE STT opened at $96.26 on Friday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a 50-day simple moving average of $88.08 and a 200 day simple moving average of $93.93. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $27.45 billion, a PE ratio of 11.68, a P/E/G ratio of 1.11 and a beta of 1.42.
State Street (NYSE:STT – Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the company earned $1.69 EPS. Research analysts forecast that State Street Co. will post 9.68 EPS for the current year.
State Street Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.16%. State Street’s dividend payout ratio (DPR) is presently 34.12%.
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.
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