Lindbrook Capital LLC Boosts Stock Position in State Street Co. (NYSE:STT)

Lindbrook Capital LLC grew its position in State Street Co. (NYSE:STT) by 80.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,422 shares of the asset manager’s stock after acquiring an additional 632 shares during the period. Lindbrook Capital LLC’s holdings in State Street were worth $110,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. AustralianSuper Pty Ltd lifted its holdings in shares of State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock valued at $88,750,000 after buying an additional 1,015,022 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in State Street in the 4th quarter worth approximately $45,687,000. Private Management Group Inc. acquired a new stake in shares of State Street during the 3rd quarter worth approximately $36,022,000. Metropolis Capital Ltd increased its holdings in shares of State Street by 18.4% during the 4th quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after purchasing an additional 537,431 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of State Street by 122.8% in the 3rd quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager’s stock valued at $59,242,000 after purchasing an additional 487,671 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

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

State Street Stock Down 0.1 %

Shares of NYSE:STT opened at $74.29 on Thursday. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90. The business has a 50-day moving average price of $74.14 and a 200 day moving average price of $72.68. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.72%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STT shares. Morgan Stanley increased their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Barclays raised their price objective 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 target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. UBS Group lifted their price target on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada upped their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.04.

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.