Meritage Portfolio Management Has $5.25 Million Holdings in State Street Co. (NYSE:STT)

Meritage Portfolio Management trimmed its position in shares of State Street Co. (NYSE:STT) by 0.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 67,753 shares of the asset manager’s stock after selling 288 shares during the period. Meritage Portfolio Management’s holdings in State Street were worth $5,248,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in STT. Invesco Ltd. increased its position in shares of State Street by 0.3% during the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after purchasing an additional 29,190 shares during the period. Northern Trust Corp boosted its stake in State Street by 4.1% in the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after buying an additional 180,093 shares in the last quarter. Metropolis Capital Ltd boosted its stake in State Street by 18.4% in the 4th quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after buying an additional 537,431 shares in the last quarter. Deutsche Bank AG boosted its stake in State Street by 1.1% in the 3rd quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock valued at $147,223,000 after buying an additional 23,506 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in State Street by 0.5% in the 4th quarter. Nordea Investment Management AB now owns 1,689,793 shares of the asset manager’s stock valued at $131,128,000 after buying an additional 8,142 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada boosted their price objective on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. The Goldman Sachs Group raised State Street from a “neutral” rating to a “buy” rating and upped their price target for the company from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Morgan Stanley upped their price objective on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. UBS Group increased their price target on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Argus increased their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Activity

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 transaction, 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 SEC, which is available at the SEC website. 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 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 directly owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the 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 transaction, 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. In the last quarter, insiders have sold 18,864 shares of company stock worth $1,390,597. Insiders own 0.31% of the company’s stock.

State Street Price Performance

State Street stock traded up $0.35 during mid-day trading on Friday, reaching $73.64. 1,077,109 shares of the company were exchanged, compared to its average volume of 2,392,959. The company has a fifty day simple moving average of $74.14 and a 200-day simple moving average of $72.68. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. 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 has a market cap of $22.23 billion, a PE ratio of 13.72, a PEG ratio of 1.32 and a beta of 1.52.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.75%. State Street’s dividend payout ratio (DPR) is presently 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.