Vanguard Group Inc. Sells 220,588 Shares of State Street Co. (NYSE:STT)

Vanguard Group Inc. decreased its stake in State Street Co. (NYSE:STT - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,162,642 shares of the asset manager's stock after selling 220,588 shares during the period. Vanguard Group Inc. owned about 12.68% of State Street worth $3,647,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STT. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of State Street by 30.4% during the 3rd 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 in the last quarter. FMR LLC boosted its stake in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Amundi grew 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 worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after buying an additional 462,201 shares during the period. Finally, Raymond James Financial Inc. bought a new position in State Street in the 4th quarter valued at approximately $44,070,000. Institutional investors own 87.44% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Citigroup dropped 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. 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 note on Friday, December 20th. Finally, Wells Fargo & Company upped their price target on State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $101.87.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale 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 dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

State Street Trading Down 0.7 %

Shares of STT traded down $0.62 during mid-day trading on Thursday, hitting $92.03. 288,576 shares of the company's stock traded hands, compared to its average volume of 2,062,378. The business's 50-day moving average price is $95.70 and its 200-day moving average price is $94.38. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm has a market capitalization of $26.55 billion, a P/E ratio of 11.17, a PEG ratio of 1.11 and a beta of 1.44. 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 (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same period last year, the company posted $2.04 EPS. The company's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.30%. State Street's dividend payout ratio (DPR) is currently 36.89%.

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.