State Street Co. (NYSE:STT) Stock Holdings Lowered by Keybank National Association OH

Keybank National Association OH reduced its holdings in State Street Co. (NYSE:STT) by 23.4% during the fourth quarter, Holdings Channel reports. The firm owned 11,776 shares of the asset manager’s stock after selling 3,595 shares during the period. Keybank National Association OH’s holdings in State Street were worth $1,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in STT. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 833,679 shares during the period. Wellington Management Group LLP raised its holdings in shares of State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after acquiring an additional 462,201 shares during the period. National Bank of Canada FI raised its holdings in shares of State Street by 99.4% during the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock valued at $78,574,000 after acquiring an additional 442,725 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

STT stock opened at $89.72 on Friday. 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 company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The firm has a 50 day moving average of $97.91 and a two-hundred day moving average of $93.92.

State Street (NYSE:STT) 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. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 earnings per share. As a group, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is 36.89%.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % 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, 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 transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on STT. Wells Fargo & Company boosted their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley cut their price target on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $101.20.

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.