Nordea Investment Management AB Buys 381,260 Shares of State Street Co. (NYSE:STT)

Nordea Investment Management AB boosted its stake in State Street Co. (NYSE:STT) by 21.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,180,504 shares of the asset manager’s stock after purchasing an additional 381,260 shares during the quarter. Nordea Investment Management AB owned about 0.74% of State Street worth $214,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. TD Asset Management Inc lifted its holdings in shares of State Street by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 123,488 shares of the asset manager’s stock worth $9,138,000 after acquiring an additional 2,731 shares during the last quarter. Candriam S.C.A. lifted its stake in State Street by 21.9% during the second quarter. Candriam S.C.A. now owns 48,686 shares of the asset manager’s stock worth $3,603,000 after purchasing an additional 8,761 shares during the last quarter. Savant Capital LLC lifted its stake in State Street by 125.0% during the second quarter. Savant Capital LLC now owns 27,527 shares of the asset manager’s stock worth $2,037,000 after purchasing an additional 15,293 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of State Street by 185.3% in the 2nd quarter. Acadian Asset Management LLC now owns 385,105 shares of the asset manager’s stock worth $28,491,000 after purchasing an additional 250,107 shares in the last quarter. Finally, Caprock Group LLC increased its position in shares of State Street by 292.7% during the 2nd quarter. Caprock Group LLC now owns 17,956 shares of the asset manager’s stock valued at $1,329,000 after purchasing an additional 13,383 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock valued at $2,499,860 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $98.38 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a twelve month low of $70.20 and a twelve month high of $101.91. The stock has a market cap of $28.84 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The firm’s fifty day simple moving average is $97.10 and its 200 day simple moving average is $88.22.

State Street (NYSE:STT) last posted its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, research analysts predict that State Street Co. will post 8.42 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.76 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.09%. State Street’s payout ratio is 48.03%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STT. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.93.

State Street 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.