State Street Co. (NYSE:STT) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in State Street Co. (NYSE:STT) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,856 shares of the asset manager’s stock after acquiring an additional 30,124 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of State Street worth $14,087,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STT. Norges Bank acquired a new stake in State Street in the 4th quarter valued at $184,482,000. Morgan Stanley raised its holdings in shares of State Street by 31.1% during the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock valued at $467,876,000 after buying an additional 1,430,237 shares during the period. Eaton Vance Management lifted its position in State Street by 159.8% during the 1st quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after acquiring an additional 1,077,013 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after acquiring an additional 1,015,022 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in State Street in the 4th quarter worth approximately $45,687,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $73.04 on Friday. The business has a 50 day simple moving average of $73.99 and a 200-day simple moving average of $72.37. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. 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 (NYSE:STT) last released 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 firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that State Street Co. will post 7.91 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is presently 51.69%.

Insider Buying and Selling

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s 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 worth $1,390,597 over the last quarter. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STT. Royal Bank of Canada lifted their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Barclays boosted their price objective on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Argus raised their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Finally, Bank of America restated an “underperform” rating and set a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, State Street has an average rating of “Hold” and a consensus price target 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.