Raiffeisen Bank International AG Acquires Shares of 13,246 State Street Co. (NYSE:STT)

Raiffeisen Bank International AG acquired a new stake in shares of State Street Co. (NYSE:STT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 13,246 shares of the asset manager’s stock, valued at approximately $1,302,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. Point72 Asia Singapore Pte. Ltd. boosted its stake in State Street by 51.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,291 shares of the asset manager’s stock valued at $1,795,000 after purchasing an additional 6,246 shares during the last quarter. Point72 Hong Kong Ltd boosted its position in shares of State Street by 11.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 94,982 shares of the asset manager’s stock valued at $9,322,000 after buying an additional 9,717 shares during the last quarter. ProShare Advisors LLC grew its holdings in State Street by 9.4% during the fourth quarter. ProShare Advisors LLC now owns 62,799 shares of the asset manager’s stock worth $6,164,000 after buying an additional 5,414 shares in the last quarter. Quantinno Capital Management LP grew its holdings in State Street by 54.8% during the fourth quarter. Quantinno Capital Management LP now owns 90,722 shares of the asset manager’s stock worth $8,904,000 after buying an additional 32,103 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new stake in State Street in the 4th quarter valued at $477,000. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.0%

NYSE:STT opened at $98.23 on Friday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $87.22 and its 200 day moving average is $93.81. The stock has a market capitalization of $28.01 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the previous year, the company posted $1.69 earnings per share. Sell-side analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. State Street’s dividend payout ratio is presently 34.12%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup cut their price objective on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Bank of America increased their price objective on shares of State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods reduced their target price on State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.15.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,820 shares of company stock worth $1,567,972 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

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.