AIA Group Ltd Has $1.96 Million Stake in State Street Co. (NYSE:STT)

AIA Group Ltd grew its position in State Street Co. (NYSE:STT) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,948 shares of the asset manager’s stock after purchasing an additional 532 shares during the quarter. AIA Group Ltd’s holdings in State Street were worth $1,958,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in State Street during the fourth quarter valued at $25,000. Y.D. More Investments Ltd lifted its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street during the 4th quarter valued at about $42,000. Loomis Sayles & Co. L P grew its stake in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial bought a new stake in State Street in the fourth quarter worth approximately $49,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

State Street Price Performance

Shares of NYSE:STT opened at $89.62 on Tuesday. State Street Co. has a 1-year low of $70.20 and a 1-year 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 stock has a market cap of $25.85 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The stock’s fifty day simple moving average is $95.20 and its two-hundred day simple moving average is $94.61.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $2.04 earnings per share. As a group, analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STT shares. Wells Fargo & Company reduced their price objective on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. 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 research report on Monday, March 24th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Barclays increased their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.53.

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.