Pacer Advisors Inc. Has $3.89 Million Holdings in State Street Co. (NYSE:STT)

Pacer Advisors Inc. grew its stake in shares of State Street Co. (NYSE:STT) by 78.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,613 shares of the asset manager’s stock after buying an additional 17,464 shares during the period. Pacer Advisors Inc.’s holdings in State Street were worth $3,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. KBC Group NV increased its stake in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after buying an additional 20,183 shares during the period. Merit Financial Group LLC bought a new position in State Street during the fourth quarter worth about $395,000. Flagship Harbor Advisors LLC acquired a new position in State Street in the fourth quarter valued at about $272,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of State Street by 118.9% in the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after acquiring an additional 23,171 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

State Street Stock Up 1.3 %

Shares of STT stock opened at $102.20 on Friday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.11 and a beta of 1.43. The firm’s 50-day moving average is $98.31 and its 200-day moving average is $90.97. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the prior year, the company earned $2.04 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts predict that State Street Co. will post 9.43 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 2.97%. State Street’s dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $100.73.

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.