Yacktman Asset Management LP Sells 539,901 Shares of State Street Co. (NYSE:STT)

Yacktman Asset Management LP lessened its stake in shares of State Street Co. (NYSE:STT - Free Report) by 18.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,427,928 shares of the asset manager's stock after selling 539,901 shares during the period. State Street comprises about 2.8% of Yacktman Asset Management LP's portfolio, making the stock its 11th largest holding. Yacktman Asset Management LP owned 0.83% of State Street worth $238,301,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Albion Financial Group UT purchased a new position in shares of State Street during the fourth quarter valued at $25,000. Y.D. More Investments Ltd boosted its position in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after acquiring an additional 197 shares during the period. Coastline Trust Co purchased a new position in State Street during the 3rd quarter valued at about $44,000. Friedenthal Financial acquired a new position in shares of State Street in the 4th quarter valued at about $49,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of State Street in the fourth quarter worth approximately $56,000. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STT has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Evercore ISI boosted their price target on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $100.73.

State Street Stock Performance

STT traded up $0.62 during trading on Tuesday, hitting $98.67. The stock had a trading volume of 1,519,913 shares, compared to its average volume of 2,026,967. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a 50 day simple moving average of $98.53 and a 200-day simple moving average of $91.91. The firm has a market cap of $28.92 billion, a PE ratio of 11.97, a P/E/G ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last posted 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 analysts' expectations 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 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. Analysts expect that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. State Street's dividend payout ratio is 36.89%.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares of the company's stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate 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.