Rhumbline Advisers Boosts Stake in State Street Corp (STT)

Rhumbline Advisers grew its holdings in shares of State Street Corp (NYSE:STT) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 651,403 shares of the asset manager’s stock after purchasing an additional 15,604 shares during the period. Rhumbline Advisers’ holdings in State Street were worth $63,583,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of STT. Livingston Group Asset Management CO operating as Southport Capital Management boosted its holdings in shares of State Street by 13.6% in the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,534 shares of the asset manager’s stock worth $443,000 after buying an additional 542 shares during the period. Puzo Michael J boosted its holdings in shares of State Street by 7.8% in the fourth quarter. Puzo Michael J now owns 7,599 shares of the asset manager’s stock worth $743,000 after buying an additional 550 shares during the period. Covenant Asset Management LLC boosted its holdings in shares of State Street by 3.8% in the fourth quarter. Covenant Asset Management LLC now owns 15,382 shares of the asset manager’s stock worth $1,501,000 after buying an additional 564 shares during the period. Ledyard National Bank boosted its holdings in shares of State Street by 12.1% in the fourth quarter. Ledyard National Bank now owns 5,703 shares of the asset manager’s stock worth $557,000 after buying an additional 615 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of State Street by 1.8% in the third quarter. Evergreen Capital Management LLC now owns 34,775 shares of the asset manager’s stock worth $3,322,000 after buying an additional 629 shares during the period. Institutional investors own 88.46% of the company’s stock.

Shares of State Street Corp (NYSE STT) opened at $104.55 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. The company has a market cap of $38,437.81, a P/E ratio of 16.29, a P/E/G ratio of 1.72 and a beta of 1.31. State Street Corp has a fifty-two week low of $75.27 and a fifty-two week high of $114.27.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.10). The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 earnings per share. analysts anticipate that State Street Corp will post 7.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, March 29th. State Street’s dividend payout ratio is currently 32.12%.

STT has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a report on Thursday, January 25th. Morgan Stanley raised their target price on shares of State Street from $114.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Citigroup upgraded shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 target price for the company in a report on Wednesday, January 10th. ValuEngine cut shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Barclays raised their target price on shares of State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. State Street has a consensus rating of “Buy” and an average target price of $106.69.

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

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