AIA Group Ltd Acquires 532 Shares of State Street Co. (NYSE:STT)

AIA Group Ltd grew its holdings in shares of State Street Co. (NYSE:STT) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,948 shares of the asset manager’s stock after buying an additional 532 shares during the quarter. AIA Group Ltd’s holdings in State Street were worth $1,958,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Townsquare Capital LLC acquired a new position in State Street during the third quarter valued at approximately $351,000. Public Sector Pension Investment Board grew its stake in shares of State Street by 2.3% in the third quarter. Public Sector Pension Investment Board now owns 52,286 shares of the asset manager’s stock valued at $4,626,000 after buying an additional 1,200 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of State Street by 14.1% in the third quarter. Rockefeller Capital Management L.P. now owns 24,631 shares of the asset manager’s stock valued at $2,176,000 after buying an additional 3,037 shares in the last quarter. Verition Fund Management LLC raised its position in State Street by 57.3% during the third quarter. Verition Fund Management LLC now owns 39,854 shares of the asset manager’s stock worth $3,526,000 after acquiring an additional 14,517 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in State Street in the third quarter valued at $1,066,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STT shares. Barclays boosted their price objective 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. Wells Fargo & Company dropped their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.53.

State Street Price Performance

State Street stock opened at $89.62 on Tuesday. The stock’s fifty day moving average price is $95.20 and its two-hundred day moving average price is $94.61. The firm has a market cap of $25.85 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. 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 one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 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 previous year, the firm earned $2.04 earnings per share. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts expect 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 paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Insider Transactions at State Street

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

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.