Mackenzie Financial Corp Has $14.09 Million Holdings in State Street Co. (NYSE:STT)

Mackenzie Financial Corp raised its stake in shares of State Street Co. (NYSE:STT) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,856 shares of the asset manager’s stock after buying an additional 30,124 shares during the period. Mackenzie Financial Corp’s holdings in State Street were worth $14,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in shares of State Street in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC grew its holdings in State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of State Street in the fourth quarter valued at approximately $35,000. State of Wyoming lifted its stake in shares of State Street by 51.3% in the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after buying an additional 210 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of State Street by 69.2% during the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock worth $50,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STT shares. Morgan Stanley lifted their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America reiterated an “underperform” rating and issued a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Barclays raised their target price on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Argus raised their price objective on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.04.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock valued at $1,390,597. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Up 0.3 %

STT opened at $73.04 on Friday. The company has a market capitalization of $22.05 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm’s fifty day moving average price is $73.99 and its two-hundred day moving average price is $72.37. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last issued its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $2.07 EPS. The firm’s revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that State Street Co. will post 7.91 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. State Street’s dividend payout ratio is currently 51.69%.

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.