Yacktman Asset Management LP Has $264.90 Million Stock Holdings in State Street Co. (NYSE:STT)

Yacktman Asset Management LP reduced its position in shares of State Street Co. (NYSE:STT) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,419,857 shares of the asset manager’s stock after selling 61,845 shares during the period. State Street makes up approximately 2.5% of Yacktman Asset Management LP’s investment portfolio, making the stock its 11th biggest position. Yacktman Asset Management LP owned 1.11% of State Street worth $264,902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of State Street by 0.3% during the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after purchasing an additional 29,190 shares during the last quarter. Northern Trust Corp lifted its stake in shares of State Street by 4.1% in the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after purchasing an additional 180,093 shares during the period. Metropolis Capital Ltd boosted its position in shares of State Street by 18.4% during the 4th quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after purchasing an additional 537,431 shares in the last quarter. Deutsche Bank AG grew its stake in State Street by 1.1% during the third quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock worth $147,223,000 after purchasing an additional 23,506 shares during the period. Finally, Nordea Investment Management AB increased its holdings in State Street by 0.5% in the fourth quarter. Nordea Investment Management AB now owns 1,689,793 shares of the asset manager’s stock worth $131,128,000 after purchasing an additional 8,142 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on STT. Bank of America reaffirmed an “underperform” rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Evercore ISI upped their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. increased their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Argus raised their price target on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and increased their price objective for the company from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $84.04.

Insider Activity at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares of the company’s stock, valued at $1,294,801. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of STT stock traded up $0.30 on Friday, hitting $73.59. 1,148,929 shares of the stock were exchanged, compared to its average volume of 2,393,496. State Street Co. has a one year low of $62.78 and a one year high of $79.90. The firm’s 50 day moving average is $74.14 and its two-hundred day moving average is $72.68. The firm has a market capitalization of $22.22 billion, a PE ratio of 13.78, a P/E/G ratio of 1.32 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.75%. State Street’s payout ratio is 51.69%.

About State Street

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.