DnB Asset Management AS Has $27.41 Million Holdings in State Street Co. (NYSE:STT)

DnB Asset Management AS lifted its stake in State Street Co. (NYSE:STT) by 10.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 279,307 shares of the asset manager’s stock after acquiring an additional 25,753 shares during the period. DnB Asset Management AS owned 0.10% of State Street worth $27,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA lifted its stake in shares of State Street by 13.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 189,098 shares of the asset manager’s stock worth $18,560,000 after buying an additional 22,123 shares during the last quarter. Norges Bank bought a new stake in State Street during the fourth quarter valued at about $161,021,000. Caisse Des Depots ET Consignations acquired a new stake in shares of State Street in the fourth quarter valued at about $1,194,000. Loomis Sayles & Co. L P increased its stake in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after purchasing an additional 311 shares during the period. Finally, NEOS Investment Management LLC lifted its position in shares of State Street by 29.7% during the 4th quarter. NEOS Investment Management LLC now owns 16,273 shares of the asset manager’s stock worth $1,585,000 after purchasing an additional 3,728 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 3.1 %

Shares of STT opened at $88.95 on Friday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. 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 stock has a fifty day moving average price of $95.35 and a two-hundred day moving average price of $94.40.

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

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is presently 36.89%.

Analyst Ratings Changes

Several research analysts have commented on STT shares. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup decreased their price target on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Morgan Stanley decreased their target price on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, State Street has an average rating of “Hold” and an average price target of $101.53.

Insider Buying and Selling at State Street

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

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.