Canandaigua National Bank & Trust Co. Has $423,000 Stake in State Street Co. (NYSE:STT)

Canandaigua National Bank & Trust Co. cut its stake in shares of State Street Co. (NYSE:STT) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,312 shares of the asset manager’s stock after selling 105 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in State Street were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in STT. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the second quarter valued at approximately $27,000. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter worth $44,000. Capital Performance Advisors LLP bought a new position in State Street during the third quarter worth $54,000. Versant Capital Management Inc lifted its holdings in State Street by 37.0% in the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after buying an additional 197 shares during the period. Finally, Tobam bought a new stake in State Street during the third quarter valued at $77,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $99.93.

State Street Trading Up 0.7 %

Shares of STT stock opened at $98.38 on Tuesday. State Street Co. has a 52-week low of $70.20 and a 52-week high of $101.91. The company has a 50-day simple moving average of $97.10 and a two-hundred day simple moving average of $88.22. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $28.84 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company posted $1.93 earnings per share. State Street’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts anticipate that State Street Co. will post 8.42 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street’s dividend payout ratio is 48.03%.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 over the last three months. 0.31% of the stock is currently owned by insiders.

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.