UMB Bank n.a. Reduces Position in State Street Co. (NYSE:STT)

UMB Bank n.a. decreased its holdings in State Street Co. (NYSE:STT) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,096 shares of the asset manager’s stock after selling 123 shares during the period. UMB Bank n.a.’s holdings in State Street were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of STT. KBC Group NV grew its stake in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after buying an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the period. Ensign Peak Advisors Inc lifted its holdings in State Street by 39.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in State Street by 118.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after purchasing an additional 23,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after buying an additional 20,968 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STT. The Goldman Sachs Group increased 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. Wells Fargo & Company raised 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday. Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Stock Down 1.9 %

Shares of NYSE STT opened at $97.13 on Thursday. The stock has a market capitalization of $28.47 billion, a P/E ratio of 11.79, a PEG ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a one year low of $70.20 and a one year high of $101.91. The firm’s 50 day simple moving average is $97.82 and its two-hundred day simple moving average is $90.08.

State Street (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3,267,560 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 EPS. As a group, analysts expect that State Street Co. will post 9.57 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is presently 36.89%.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate 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.