L & S Advisors Inc Decreases Stake in State Street Co. (NYSE:STT)

L & S Advisors Inc decreased its position in shares of State Street Co. (NYSE:STT - Free Report) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,955 shares of the asset manager's stock after selling 43,838 shares during the quarter. L & S Advisors Inc's holdings in State Street were worth $8,142,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STT. Albion Financial Group UT bought a new stake in shares of State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd grew its stake in State Street by 116.6% in the fourth 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 during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the fourth quarter worth about $42,000. Loomis Sayles & Co. L P raised its position in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial bought a new position in shares of State Street during the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity

In other news, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business's 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 transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Citigroup cut their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company decreased their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $101.53.

State Street Stock Performance

NYSE:STT traded up $0.58 on Monday, reaching $89.62. 2,222,700 shares of the company's stock were exchanged, compared to its average volume of 2,169,173. The firm has a market cap of $25.85 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a fifty day simple moving average of $95.35 and a 200-day simple moving average of $94.56. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. The company's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.39%. State Street's payout ratio is currently 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.