BNP Paribas Arbitrage SA Sells 118,161 Shares of State Street Co. (NYSE:STT)

BNP Paribas Arbitrage SA trimmed its holdings in shares of State Street Co. (NYSE:STT – Get Rating) by 42.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,756 shares of the asset manager’s stock after selling 118,161 shares during the period. BNP Paribas Arbitrage SA’s holdings in State Street were worth $15,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STT. Invesco Ltd. raised its stake in shares of State Street by 63.7% during the 3rd quarter. Invesco Ltd. now owns 7,419,940 shares of the asset manager’s stock worth $628,620,000 after purchasing an additional 2,886,287 shares during the period. BlackRock Inc. increased its holdings in State Street by 5.1% in the 3rd quarter. BlackRock Inc. now owns 26,910,641 shares of the asset manager’s stock worth $2,279,870,000 after acquiring an additional 1,317,557 shares during the last quarter. Toronto Dominion Bank increased its holdings in State Street by 290.3% in the 4th quarter. Toronto Dominion Bank now owns 1,270,979 shares of the asset manager’s stock worth $118,199,000 after acquiring an additional 945,322 shares during the last quarter. Islet Management LP purchased a new stake in State Street in the 3rd quarter worth about $55,641,000. Finally, Geode Capital Management LLC increased its holdings in State Street by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,074,743 shares of the asset manager’s stock worth $597,885,000 after acquiring an additional 654,455 shares during the last quarter. Institutional investors own 91.48% of the company’s stock.

NYSE:STT opened at $69.25 on Tuesday. The business has a 50 day moving average of $80.49 and a 200 day moving average of $90.27. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.12 and a beta of 1.61. State Street Co. has a 1-year low of $66.47 and a 1-year high of $104.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.52 and a quick ratio of 0.52.

State Street (NYSE:STT – Get Rating) last announced its quarterly earnings data on Thursday, April 14th. The asset manager reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.12. State Street had a return on equity of 11.59% and a net margin of 22.82%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that State Street Co. will post 7.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Shareholders of record on Friday, April 1st were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.28 annualized dividend and a yield of 3.29%. State Street’s payout ratio is currently 30.89%.

Several brokerages recently weighed in on STT. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a report on Friday, January 21st. Citigroup lowered State Street from a “buy” rating to a “neutral” rating in a report on Monday, April 11th. Wolfe Research lowered State Street from an “outperform” rating to a “peer perform” rating and set a $101.00 price objective for the company. in a report on Thursday, March 31st. Deutsche Bank Aktiengesellschaft cut their price objective on State Street from $113.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 18th. Finally, Barclays cut their price objective on State Street from $130.00 to $115.00 in a report on Monday, April 18th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street currently has an average rating of “Hold” and an average target price of $102.29.

State Street Company Profile (Get Rating)

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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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