PGGM Investments Has $7.36 Million Holdings in State Street Co. (NYSE:STT)

PGGM Investments raised its position in shares of State Street Co. (NYSE:STT) by 230.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,964 shares of the asset manager’s stock after purchasing an additional 52,308 shares during the period. PGGM Investments’ holdings in State Street were worth $7,358,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in State Street by 0.6% during the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after acquiring an additional 41,442 shares in the last quarter. FMR LLC raised its holdings in shares of State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. Amundi boosted its holdings in State Street by 11.1% in the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in 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 buying an additional 408,792 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Down 1.8 %

STT stock opened at $84.23 on Friday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $24.30 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The business’s 50-day simple moving average is $96.91 and its 200 day simple moving average is $94.03.

State Street (NYSE:STT) last announced its quarterly earnings data 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. The company 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%. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 EPS. On average, research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is 36.89%.

Insider Activity

In related news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s 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 of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. Wolfe Research upgraded 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. 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. Finally, Morgan Stanley lowered their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, State Street currently has a consensus rating of “Hold” and an average target price of $101.20.

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.