State Street Co. (NYSE:STT) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lowered its position in State Street Co. (NYSE:STT - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,818 shares of the asset manager's stock after selling 928,716 shares during the period. AustralianSuper Pty Ltd's holdings in State Street were worth $12,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of STT. Flagship Harbor Advisors LLC purchased a new position in State Street during the 4th quarter worth $272,000. KBC Group NV grew its stake in shares of State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock worth $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of State Street during the fourth quarter valued at about $395,000. Janney Montgomery Scott LLC raised its position in shares of State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock valued at $7,289,000 after purchasing an additional 7,446 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager's stock worth $12,124,000 after purchasing an additional 20,183 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,020 shares of company stock valued at $2,674,661. Insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STT shares. Barclays lifted their price objective 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. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and upped their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $100.73.

State Street Price Performance

NYSE STT traded down $0.62 during trading hours on Wednesday, reaching $99.82. The company's stock had a trading volume of 2,008,597 shares, compared to its average volume of 1,977,687. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company's 50-day moving average is $98.59 and its two-hundred day moving average is $92.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business posted $2.04 earnings per share. State Street's quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts predict that State Street Co. will post 9.65 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Thursday, January 2nd. State Street's dividend payout ratio is presently 36.89%.

About State Street

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.