HBK Investments L P acquired a new stake in shares of State Street Corp (NYSE:STT) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 111,500 shares of the asset manager’s stock, valued at approximately $10,884,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in State Street by 1.3% in the 4th quarter. BlackRock Inc. now owns 21,564,559 shares of the asset manager’s stock worth $2,104,916,000 after purchasing an additional 276,242 shares during the period. Longview Partners Guernsey LTD increased its stake in State Street by 0.9% in the 4th quarter. Longview Partners Guernsey LTD now owns 8,131,523 shares of the asset manager’s stock worth $793,718,000 after purchasing an additional 68,797 shares during the period. Capital International Investors increased its stake in State Street by 63.3% in the 3rd quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after purchasing an additional 2,237,595 shares during the period. Artisan Partners Limited Partnership increased its stake in State Street by 44.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock worth $427,133,000 after purchasing an additional 1,383,249 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in State Street by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,349,477 shares of the asset manager’s stock worth $415,547,000 after purchasing an additional 13,453 shares during the period. 89.15% of the stock is currently owned by institutional investors.
Shares of State Street Corp (NYSE STT) opened at $107.33 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.49 and a current ratio of 0.49. State Street Corp has a 1 year low of $75.27 and a 1 year high of $114.27. The firm has a market capitalization of $40,011.70, a P/E ratio of 16.95, a P/E/G ratio of 1.42 and a beta of 1.29.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. State Street’s dividend payout ratio is presently 32.12%.
In related news, insider Jeff D. Conway sold 747 shares of State Street stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $103.07, for a total transaction of $76,993.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joseph L. Hooley sold 33,568 shares of State Street stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The disclosure for this sale can be found here. Insiders have sold 49,531 shares of company stock worth $5,146,169 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.
STT has been the topic of a number of analyst reports. ValuEngine raised State Street from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Tuesday, December 12th. Bank of America lifted their price objective on State Street from $108.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley lifted their price objective on State Street from $114.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $108.33.
State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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