Nordea Investment Management AB Boosts Stake in State Street Co. (NYSE:STT)

Nordea Investment Management AB lifted its holdings in shares of State Street Co. (NYSE:STT) by 21.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,180,504 shares of the asset manager’s stock after acquiring an additional 381,260 shares during the quarter. Nordea Investment Management AB’s holdings in State Street were worth $214,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Peapack Gladstone Financial Corp grew its stake in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the last quarter. Rockland Trust Co. grew its position in State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after purchasing an additional 150 shares during the period. Empirical Finance LLC raised its stake in State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of State Street by 3.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock valued at $512,000 after buying an additional 184 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 over the last quarter. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on STT shares. Morgan Stanley reduced their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. 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 report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.93.

State Street Trading Up 0.7 %

Shares of State Street stock opened at $98.38 on Tuesday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $28.84 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.24 and a beta of 1.43. The company has a fifty day moving average of $97.10 and a 200 day moving average of $88.22.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. On average, sell-side analysts anticipate that State Street Co. will post 8.42 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 48.03%.

About State Street

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.