Nebula Research & Development LLC lessened its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 42.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,430 shares of the asset manager's stock after selling 9,732 shares during the period. Nebula Research & Development LLC's holdings in State Street were worth $1,318,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Adero Partners LLC boosted its holdings in shares of State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after buying an additional 100 shares during the period. Peapack Gladstone Financial Corp boosted its stake in State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after purchasing an additional 103 shares during the period. Jacobi Capital Management LLC increased its holdings in State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after purchasing an additional 121 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after purchasing an additional 131 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in shares of State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after purchasing an additional 138 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.
State Street Stock Performance
STT opened at $87.33 on Friday. 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 stock has a market cap of $25.20 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.11 and a beta of 1.42. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The business has a 50 day moving average of $87.81 and a 200-day moving average of $93.67.
State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the previous year, the business posted $1.69 earnings per share. On average, equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current year.
State Street Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.48%. State Street's dividend payout ratio (DPR) is currently 34.12%.
Insiders Place Their Bets
In other news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction 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 completion of the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on STT. Evercore ISI dropped their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Bank of America increased their price objective on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $102.15.
Read Our Latest Stock Analysis on STT
State Street Profile
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Free Report)
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.
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