State Street Co. (NYSE:STT) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its position in shares of State Street Co. (NYSE:STT - Free Report) by 26.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,155 shares of the asset manager's stock after selling 29,185 shares during the quarter. Bank of Nova Scotia's holdings in State Street were worth $7,965,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % 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.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STT shares. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Wells Fargo & Company reduced their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, State Street has a consensus rating of "Hold" and an average target price of $102.43.

State Street Stock Performance

Shares of STT traded up $1.56 during mid-day trading on Monday, hitting $80.97. The stock had a trading volume of 2,267,651 shares, compared to its average volume of 2,180,573. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $23.37 billion, a PE ratio of 9.83, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company's fifty day simple moving average is $90.67 and its two-hundred day simple moving average is $93.98.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS 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 during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.75%. State Street's dividend payout ratio (DPR) is 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.