Skandinaviska Enskilda Banken AB publ Sells 54,549 Shares of State Street Co. (NYSE:STT)

Skandinaviska Enskilda Banken AB publ trimmed its stake in State Street Co. (NYSE:STT - Free Report) by 37.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,136 shares of the asset manager's stock after selling 54,549 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in State Street were worth $9,055,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Albion Financial Group UT bought a new stake in State Street in the fourth quarter valued at $25,000. Y.D. More Investments Ltd grew its holdings in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street during the fourth quarter worth $42,000. Coastline Trust Co bought a new stake in shares of State Street during the third quarter worth $44,000. Finally, Friedenthal Financial bought a new stake in shares of State Street during the fourth quarter worth $49,000. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Up 2.5 %

NYSE:STT traded up $2.22 during mid-day trading on Wednesday, hitting $90.33. The company had a trading volume of 2,444,520 shares, compared to its average volume of 2,061,275. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The business's fifty day moving average is $96.29 and its two-hundred day moving average is $94.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $26.06 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.11 and a beta of 1.44.

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State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.04 earnings per share. As a group, research 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is currently 36.89%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STT shares. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Morgan Stanley decreased their target price on State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of "Hold" and an average price target of $101.20.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company's stock, valued at approximately $10,002,300. The trade was a 9.76 % 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 insiders.

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.