Vontobel Holding Ltd. Grows Position in State Street Co. (NYSE:STT)

Vontobel Holding Ltd. boosted its stake in shares of State Street Co. (NYSE:STT) by 4.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,216 shares of the asset manager’s stock after buying an additional 1,183 shares during the quarter. Vontobel Holding Ltd.’s holdings in State Street were worth $2,671,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of STT. Hotchkis & Wiley Capital Management LLC lifted its position in State Street by 30.4% during the third 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 in the last quarter. FMR LLC lifted its position in shares of State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after acquiring an additional 462,201 shares in the last quarter. National Bank of Canada FI lifted its position in shares of State Street by 99.4% in the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after acquiring an additional 442,725 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of State Street by 13.8% in the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Trading Up 0.1 %

Shares of NYSE STT opened at $99.16 on Monday. The business’s 50 day moving average is $98.59 and its two-hundred day moving average is $92.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The stock has a market capitalization of $29.07 billion, a P/E ratio of 12.03, a PEG ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last issued 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. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. State Street’s dividend payout ratio is 36.89%.

Analyst Ratings Changes

STT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.73.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

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.