River Global Investors LLP Reduces Stock Position in State Street Co. (NYSE:STT)

River Global Investors LLP reduced its holdings in shares of State Street Co. (NYSE:STT) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,976 shares of the asset manager’s stock after selling 5,716 shares during the quarter. State Street comprises 1.2% of River Global Investors LLP’s investment portfolio, making the stock its 16th biggest position. River Global Investors LLP’s holdings in State Street were worth $6,350,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after buying an additional 29,190 shares in the last quarter. Northern Trust Corp lifted its stake in State Street by 4.1% in the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after purchasing an additional 180,093 shares in the last quarter. LSV Asset Management lifted its stake in State Street by 0.7% in the 4th quarter. LSV Asset Management now owns 3,658,731 shares of the asset manager’s stock worth $283,405,000 after purchasing an additional 23,756 shares in the last quarter. Metropolis Capital Ltd raised its position in shares of State Street by 18.4% during the 4th quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after buying an additional 537,431 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of State Street by 1.1% during the 3rd quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock valued at $147,223,000 after buying an additional 23,506 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley increased their target price on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Royal Bank of Canada boosted their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Evercore ISI lifted their price target on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Argus raised their price objective on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.04.

State Street Price Performance

NYSE STT traded up $1.19 during trading hours on Friday, reaching $74.39. The company’s stock had a trading volume of 1,623,097 shares, compared to its average volume of 2,916,756. The firm’s 50-day moving average price is $74.24 and its 200-day moving average price is $72.98. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.30 and a beta of 1.52.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Insiders Place Their Bets

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last quarter. 0.31% of the stock is currently owned by insiders.

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.