O Shaughnessy Asset Management LLC Has $6.88 Million Stock Position in State Street Co. (NYSE:STT)

O Shaughnessy Asset Management LLC cut its holdings in shares of State Street Co. (NYSE:STT) by 76.8% in the fourth quarter, HoldingsChannel reports. The fund owned 70,060 shares of the asset manager’s stock after selling 231,374 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in State Street were worth $6,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Flagship Harbor Advisors LLC purchased a new stake in shares of State Street in the fourth quarter worth approximately $272,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock valued at $44,725,000 after buying an additional 14,476 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of State Street by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock valued at $184,025,000 after buying an additional 10,404 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after acquiring an additional 7,446 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of State Street during the 4th quarter valued at $395,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on STT. Citigroup reduced their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price objective on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, State Street has a consensus rating of “Hold” and an average price target of $102.33.

Insider Activity 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 stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value 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. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Down 0.8 %

Shares of NYSE:STT opened at $88.82 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50-day moving average is $94.99 and its 200-day moving average is $94.65. The company has a market cap of $25.62 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the firm posted $2.04 EPS. The company’s revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

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 dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

About State Street

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.