Lindbrook Capital LLC Grows Position in State Street Co. (NYSE:STT)

Lindbrook Capital LLC raised its holdings in State Street Co. (NYSE:STT) by 80.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,422 shares of the asset manager’s stock after purchasing an additional 632 shares during the period. Lindbrook Capital LLC’s holdings in State Street were worth $110,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its stake in State Street by 54.9% in the 3rd 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 purchased a new stake in shares of State Street in the fourth quarter worth $45,687,000. Crestwood Advisors Group LLC boosted its stake in State Street by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock valued at $5,562,000 after buying an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in shares of State Street by 3.7% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after purchasing an additional 17,270 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of 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 purchasing an additional 12,594 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

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

State Street Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on STT. Evercore ISI boosted 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. Barclays boosted their price objective on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. increased their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. UBS Group boosted their price target on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada raised their price objective on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.04.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other State Street news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the sale, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction 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 the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock valued at $1,390,597. Company insiders own 0.31% of the company’s stock.

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.