Rhumbline Advisers Acquires 26,369 Shares of State Street Co. (NYSE:STT)

Rhumbline Advisers boosted its holdings in shares of State Street Co. (NYSE:STTGet Rating) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 571,544 shares of the asset manager’s stock after buying an additional 26,369 shares during the period. Rhumbline Advisers owned approximately 0.16% of State Street worth $53,154,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System raised its holdings in shares of State Street by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the asset manager’s stock worth $2,130,000 after acquiring an additional 100 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of State Street by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 48,049 shares of the asset manager’s stock worth $4,469,000 after purchasing an additional 121 shares during the last quarter. MMA Asset Management LLC lifted its holdings in shares of State Street by 4.8% in the fourth quarter. MMA Asset Management LLC now owns 2,691 shares of the asset manager’s stock valued at $250,000 after purchasing an additional 124 shares in the last quarter. CX Institutional boosted its position in shares of State Street by 1.8% during the third quarter. CX Institutional now owns 7,407 shares of the asset manager’s stock valued at $628,000 after buying an additional 130 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in State Street by 7.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the asset manager’s stock worth $196,000 after buying an additional 144 shares in the last quarter. 91.48% of the stock is currently owned by hedge funds and other institutional investors.

STT stock opened at $68.31 on Tuesday. The stock has a fifty day moving average of $79.15 and a 200-day moving average of $89.21. State Street Co. has a fifty-two week low of $65.80 and a fifty-two week high of $104.87. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.10 and a beta of 1.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.52 and a current ratio of 0.52.

State Street (NYSE:STTGet Rating) last issued its earnings results on Thursday, April 14th. The asset manager reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.12. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.03 billion. State Street had a net margin of 22.82% and a return on equity of 11.59%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.47 earnings per share. Equities analysts predict that State Street Co. will post 7.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 11th. Shareholders of record on Friday, April 1st were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.28 dividend on an annualized basis and a yield of 3.34%. State Street’s payout ratio is 30.89%.

STT has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of State Street in a report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup cut shares of State Street from a “buy” rating to a “neutral” rating in a report on Monday, April 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of State Street from $113.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Credit Suisse Group reduced their target price on State Street from $106.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 18th. Finally, Barclays dropped their price target on State Street from $130.00 to $115.00 in a report on Monday, April 18th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, State Street presently has a consensus rating of “Hold” and a consensus price target 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.

Further Reading

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.