ExodusPoint Capital Management LP Decreases Stock Holdings in State Street Co. (NYSE:STT)

ExodusPoint Capital Management LP lessened its stake in State Street Co. (NYSE:STT - Free Report) by 24.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 177,215 shares of the asset manager's stock after selling 58,802 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of State Street worth $17,394,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STT. Albion Financial Group UT bought a new stake in State Street during the 4th quarter valued at $25,000. Y.D. More Investments Ltd grew its position in shares of 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 purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street during the 4th quarter valued at $42,000. Loomis Sayles & Co. L P lifted its holdings in State Street by 187.3% during the 4th 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 in the last quarter. Finally, Friedenthal Financial bought a new position in State Street in the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

State Street Stock Up 9.5 %

Shares of NYSE STT traded up $7.14 during midday trading on Wednesday, hitting $82.47. The stock had a trading volume of 2,892,206 shares, compared to its average volume of 2,196,154. The business's 50 day moving average is $91.80 and its 200-day moving average is $94.12. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. 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 $23.80 billion, a P/E ratio of 10.01, a PEG ratio of 1.11 and a beta of 1.42.

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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 the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The company's revenue was up 12.1% on a year-over-year basis. As a group, analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's payout ratio is presently 36.89%.

Insider Transactions at State Street

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 sale, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. 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 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 sale, the executive vice president now directly owns 50,816 shares of the company's stock, 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. Company insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays increased their target price 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. 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 report on Friday, December 20th. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Citigroup dropped their price target on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company decreased their price objective 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. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $101.07.

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.