State Street Co. (NYSE:STT) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of State Street Co. (NYSE:STT) by 47.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,267 shares of the asset manager’s stock after buying an additional 2,338 shares during the quarter. Empowered Funds LLC’s holdings in State Street were worth $708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC increased its stake in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. FMR LLC increased its position in shares of State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares in the last quarter. Wellington Management Group LLP increased its position in shares of State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after buying an additional 462,201 shares in the last quarter. National Bank of Canada FI raised its stake in shares of State Street by 99.4% during the 3rd quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after buying an additional 442,725 shares during the period. Finally, Franklin Resources Inc. grew its stake in State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock opened at $100.40 on Wednesday. The firm has a 50 day simple moving average of $98.58 and a 200-day simple moving average of $92.40. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the business posted $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

Analysts Set New Price Targets

STT has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Finally, StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by insiders.

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.