Keybank National Association OH trimmed its position in State Street Corp (NYSE:STT) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 51,260 shares of the asset manager’s stock after selling 5,303 shares during the period. Keybank National Association OH’s holdings in State Street were worth $5,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. Zions Bancorporation boosted its holdings in State Street by 318.0% in the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 795 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in State Street in the fourth quarter valued at $107,000. Legacy Advisors LLC boosted its holdings in State Street by 835.8% in the fourth quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock valued at $112,000 after purchasing an additional 1,028 shares during the last quarter. Sabal Trust CO purchased a new stake in State Street in the third quarter valued at $201,000. Finally, BB&T Corp purchased a new stake in State Street in the fourth quarter valued at $203,000. 88.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of State Street Corp (NYSE STT) opened at $104.55 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.49. State Street Corp has a 12 month low of $75.27 and a 12 month high of $114.27. The stock has a market cap of $38,437.81, a PE ratio of 16.29, a PEG ratio of 1.72 and a beta of 1.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid 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 payout ratio is currently 32.12%.
STT has been the topic of several recent research reports. ValuEngine raised shares of State Street from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Thursday, January 25th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Tuesday, December 12th. Bank of America upped their price target on shares of State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley upped their price target on shares of State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. State Street presently has an average rating of “Buy” and a consensus 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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