State Street Co. (NYSE:STT) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC raised its position in State Street Co. (NYSE:STT) by 95.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,583 shares of the asset manager’s stock after buying an additional 7,628 shares during the period. Ieq Capital LLC’s holdings in State Street were worth $1,529,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd boosted its position in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Coastline Trust Co acquired a new stake in State Street in the third quarter valued at approximately $44,000. Friedenthal Financial purchased a new position in shares of State Street during the 4th quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of State Street during the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

STT has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street presently has an average rating of “Hold” and an average target price of $100.73.

State Street Trading Down 0.1 %

Shares of State Street stock opened at $98.56 on Tuesday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.11 and a beta of 1.43. The stock has a 50 day moving average of $98.50 and a 200 day moving average of $93.16.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the company earned $2.04 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. State Street’s payout ratio is currently 36.89%.

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.