Arrowstreet Capital Limited Partnership Sells 51,260 Shares of State Street Co. (NYSE:STT)

Arrowstreet Capital Limited Partnership lessened its stake in shares of State Street Co. (NYSE:STT - Free Report) by 2.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,840,993 shares of the asset manager's stock after selling 51,260 shares during the period. Arrowstreet Capital Limited Partnership owned 0.63% of State Street worth $180,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of State Street during the 4th quarter worth about $161,021,000. Hotchkis & Wiley Capital Management LLC grew its stake in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. Amundi increased its holdings in shares of State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after acquiring an additional 561,773 shares in the last quarter. Wellington Management Group LLP raised its position in shares of State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock worth $45,889,000 after purchasing an additional 462,201 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of State Street in the 4th quarter worth $44,070,000. 87.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of the company'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 directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This trade represents a 9.76 % 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.

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State Street Stock Performance

State Street stock traded up $0.85 during trading on Wednesday, hitting $89.67. The stock had a trading volume of 1,108,145 shares, compared to its average volume of 2,166,444. The stock has a market cap of $25.87 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The stock's 50 day moving average is $94.99 and its two-hundred day moving average is $94.65. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $3.41 billion during 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 firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 EPS. As a group, analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.39%. State Street's payout ratio is 36.89%.

Analysts Set New Price Targets

Several research analysts have weighed in on STT shares. Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Morgan Stanley decreased their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday. Bank of America raised their price target on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research report on Wednesday. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $102.07.

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.