Choreo LLC Increases Position in State Street Co. (NYSE:STT)

Choreo LLC raised its position in State Street Co. (NYSE:STT) by 73.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,880 shares of the asset manager’s stock after purchasing an additional 13,902 shares during the quarter. Choreo LLC’s holdings in State Street were worth $3,231,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STT. Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Barclays boosted their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Evercore ISI boosted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $100.73.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of STT opened at $99.51 on Friday. 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 market capitalization of $29.17 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. The firm has a 50-day simple moving average of $98.50 and a 200-day simple moving average of $91.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced its earnings results 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 net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that State Street Co. will post 9.6 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is 36.89%.

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.