Denali Advisors LLC Trims Position in State Street Co. (NYSE:STT)

Denali Advisors LLC decreased its holdings in shares of State Street Co. (NYSE:STT) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,431 shares of the asset manager’s stock after selling 1,100 shares during the period. Denali Advisors LLC’s holdings in State Street were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STT. Longbow Finance SA acquired a new stake in State Street during the 4th quarter worth approximately $8,963,000. Ascent Wealth Partners LLC purchased a new stake in shares of State Street during the fourth quarter worth approximately $406,000. MONECO Advisors LLC acquired a new stake in shares of State Street during the fourth quarter worth $1,740,000. Hudson Edge Investment Partners Inc. grew its position in State Street by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 75,960 shares of the asset manager’s stock valued at $7,455,000 after buying an additional 1,380 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its stake in State Street by 1.2% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 41,604 shares of the asset manager’s stock valued at $4,083,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.1 %

NYSE:STT opened at $97.29 on Thursday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $98.52 and a 200-day simple moving average of $93.32. The company has a market capitalization of $28.07 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.04 earnings per share. On average, equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Analysts Set New Price Targets

STT has been the subject of several recent analyst reports. Barclays raised 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. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Morgan Stanley decreased their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.73.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by 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.