UniSuper Management Pty Ltd trimmed its stake in State Street Co. (NYSE:STT - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,488 shares of the asset manager's stock after selling 4,355 shares during the period. UniSuper Management Pty Ltd's holdings in State Street were worth $2,894,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Adero Partners LLC raised its stake in State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after buying an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock valued at $467,000 after buying an additional 103 shares in the last quarter. Jacobi Capital Management LLC raised its position in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after purchasing an additional 121 shares during the period. Moors & Cabot Inc. boosted its stake in shares of State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after acquiring an additional 131 shares during the period. Finally, Apollon Wealth Management LLC boosted its position in shares of State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after acquiring an additional 138 shares during the last quarter. 87.44% of the stock is owned by institutional investors.
Insider Activity
In related news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction on 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 sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.
State Street Price Performance
NYSE:STT traded down $6.81 during trading hours on Thursday, hitting $82.78. 715,797 shares of the stock were exchanged, compared to its average volume of 2,036,651. The firm's fifty day moving average price is $94.85 and its 200 day moving average price is $94.62. 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 company has a market cap of $23.88 billion, a P/E ratio of 10.05, a P/E/G 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 posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the business earned $2.04 earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.
State Street Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is presently 36.89%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Evercore ISI dropped their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday. Morgan Stanley lowered their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Barclays lifted 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. One equities 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $102.07.
View Our Latest Analysis on State Street
State Street Company Profile
(
Free Report)
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.
Featured Stories
Before you consider State Street, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and State Street wasn't on the list.
While State Street currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
