Handelsbanken Fonder AB Grows Stock Holdings in State Street Co. (NYSE:STT)

Handelsbanken Fonder AB boosted its holdings in State Street Co. (NYSE:STT) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,464 shares of the asset manager’s stock after buying an additional 11,152 shares during the period. Handelsbanken Fonder AB’s holdings in State Street were worth $9,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its holdings in shares of State Street by 54.9% in the third quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock worth $726,000 after purchasing an additional 3,841 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of State Street in the fourth quarter worth $45,687,000. Crestwood Advisors Group LLC grew its position in State Street by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after acquiring an additional 8,202 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its position in State Street by 3.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after acquiring an additional 17,270 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in State Street by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock worth $20,941,000 after acquiring an additional 12,594 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is owned by insiders.

State Street Trading Down 0.1 %

NYSE:STT opened at $74.29 on Thursday. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average price is $74.14 and its 200-day moving average price is $72.68. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.72%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

Analysts Set New Price Targets

STT has been the subject of several research reports. Royal Bank of Canada upped their target price on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Barclays upped their target price on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Argus increased their price target on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Bank of America reissued an “underperform” rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Finally, Evercore ISI increased their price target on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average price target of $84.04.

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.