State Street Co. (NYSE:STT) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,720 shares of the asset manager's stock after selling 3,141 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in State Street were worth $1,641,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Raymond James Trust N.A. purchased a new stake in State Street in the 3rd quarter valued at about $226,000. Cerity Partners LLC lifted its stake in State Street by 35.1% during the 3rd quarter. Cerity Partners LLC now owns 60,936 shares of the asset manager's stock worth $5,391,000 after acquiring an additional 15,818 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in State Street by 27,157.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,908 shares of the asset manager's stock worth $169,000 after acquiring an additional 1,901 shares in the last quarter. FMR LLC boosted its holdings in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after acquiring an additional 833,679 shares during the period. Finally, Quantbot Technologies LP grew its position in State Street by 83.9% in the 3rd quarter. Quantbot Technologies LP now owns 39,561 shares of the asset manager's stock valued at $3,500,000 after acquiring an additional 18,051 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

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Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction 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 sale, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

State Street Stock Up 0.6 %

STT stock traded up $0.56 during trading on Monday, hitting $89.60. 804,206 shares of the company's stock were exchanged, compared to its average volume of 2,049,859. The business has a 50-day moving average price of $95.35 and a two-hundred day moving average price of $94.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.11 and a beta of 1.44. 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 issued 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 EPS. As a group, equities research analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed 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. This represents a $3.04 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is 36.89%.

Analysts Set New Price Targets

Several research analysts have recently commented on STT shares. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Barclays raised their price target on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Citigroup cut their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Morgan Stanley cut their price target on State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, State Street presently has a consensus rating of "Hold" and a consensus price target of $101.53.

State Street Company 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.