M&T Bank Corp Buys 461 Shares of State Street Co. (NYSE:STT)

M&T Bank Corp grew its stake in shares of State Street Co. (NYSE:STT) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 92,618 shares of the asset manager’s stock after purchasing an additional 461 shares during the quarter. M&T Bank Corp’s holdings in State Street were worth $7,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of State Street by 0.3% during the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after buying an additional 29,190 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of State Street by 4.1% during the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after purchasing an additional 180,093 shares during the period. Metropolis Capital Ltd boosted its holdings in shares of State Street by 18.4% during the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after purchasing an additional 537,431 shares during the period. Deutsche Bank AG boosted its holdings in shares of State Street by 1.1% during the third quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock worth $147,223,000 after purchasing an additional 23,506 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of State Street by 0.5% during the fourth quarter. Nordea Investment Management AB now owns 1,689,793 shares of the asset manager’s stock worth $131,128,000 after purchasing an additional 8,142 shares during the period. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Morgan Stanley increased their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group increased their target price on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Argus raised their price objective on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.04.

Insider Activity at State Street

In related news, 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 transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, 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 transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction on 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 approximately $1,717,873.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is owned by corporate insiders.

State Street Trading Up 1.6 %

Shares of State Street stock opened at $74.39 on Monday. The company’s fifty day simple moving average is $74.26 and its 200-day simple moving average is $73.11. The stock has a market capitalization of $22.41 billion, a PE ratio of 13.93, a P/E/G ratio of 1.32 and a beta of 1.52. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, equities analysts anticipate that State Street Co. will post 7.96 earnings per share for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is 51.69%.

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.