GHP Investment Advisors Inc. raised its stake in shares of State Street Corp (NYSE:STT) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,049 shares of the asset manager’s stock after purchasing an additional 700 shares during the period. GHP Investment Advisors Inc.’s holdings in State Street were worth $1,664,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in STT. Nationwide Fund Advisors raised its position in State Street by 38.8% during the 3rd quarter. Nationwide Fund Advisors now owns 311,211 shares of the asset manager’s stock worth $29,733,000 after purchasing an additional 86,945 shares during the last quarter. Victory Capital Management Inc. raised its position in State Street by 24.8% during the 3rd quarter. Victory Capital Management Inc. now owns 27,891 shares of the asset manager’s stock worth $2,665,000 after purchasing an additional 5,537 shares during the last quarter. Chicago Equity Partners LLC bought a new position in State Street during the 3rd quarter worth $334,000. Jennison Associates LLC bought a new position in State Street during the 3rd quarter worth $584,000. Finally, Retirement Systems of Alabama raised its position in State Street by 5.8% during the 3rd quarter. Retirement Systems of Alabama now owns 181,426 shares of the asset manager’s stock worth $17,333,000 after purchasing an additional 9,952 shares during the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.
State Street Corp (NYSE:STT) opened at $107.33 on Wednesday. State Street Corp has a 12-month low of $75.27 and a 12-month high of $114.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $40,011.70, a PE ratio of 16.95, a PEG ratio of 1.42 and a beta of 1.29.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a $0.42 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. State Street’s dividend payout ratio is presently 32.12%.
Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on State Street from $105.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Vining Sparks reaffirmed a “buy” rating and set a $120.00 target price on shares of State Street in a research report on Monday, January 8th. ValuEngine raised State Street from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods set a $120.00 price objective on State Street and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $108.33.
In other news, EVP George E. Sullivan sold 3,495 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $103.07, for a total value of $360,229.65. Following the completion of the sale, the executive vice president now directly owns 58,340 shares in the company, valued at approximately $6,013,103.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph L. Hooley sold 33,568 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,531 shares of company stock valued at $5,146,169. 0.71% of the stock is currently owned by company insiders.
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State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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