State Street Co. (NYSE:STT) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lessened its stake in shares of State Street Co. (NYSE:STT) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,201 shares of the asset manager’s stock after selling 2,532 shares during the period. First Hawaiian Bank’s holdings in State Street were worth $1,983,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc raised its stake in State Street by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 123,488 shares of the asset manager’s stock worth $9,138,000 after acquiring an additional 2,731 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street during the second quarter worth about $27,000. Choreo LLC boosted its position in State Street by 159.1% in the second quarter. Choreo LLC now owns 20,840 shares of the asset manager’s stock valued at $1,533,000 after buying an additional 12,796 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in State Street by 7.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,478 shares of the asset manager’s stock worth $3,070,000 after buying an additional 2,976 shares during the period. Finally, American Century Companies Inc. raised its position in State Street by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 350,156 shares of the asset manager’s stock worth $25,912,000 after buying an additional 5,066 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was 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 directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 over the last three months. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on STT shares. The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the company 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 report on Wednesday. Wells Fargo & Company boosted their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.33.

State Street Stock Down 0.0 %

STT opened at $97.68 on Thursday. The company has a market cap of $28.63 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. State Street Co. has a twelve month low of $70.20 and a twelve month high of $101.91. The company has a 50-day moving average price of $97.29 and a 200 day moving average price of $88.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.19 billion. During the same quarter last year, the business posted $1.93 earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.11%. State Street’s dividend payout ratio (DPR) is presently 48.03%.

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.