State Street Co. (NYSE:STT) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC trimmed its holdings in shares of State Street Co. (NYSE:STT) by 50.9% during the fourth quarter, Holdings Channel reports. The firm owned 3,652 shares of the asset manager’s stock after selling 3,780 shares during the quarter. Morningstar Investment Management LLC’s holdings in State Street were worth $358,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd raised its stake in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Coastline Trust Co acquired a new position in State Street during the 3rd quarter worth $44,000. Friedenthal Financial bought a new position in shares of State Street in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of State Street during the third quarter valued at $54,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

STT opened at $99.82 on Thursday. The business has a fifty day simple moving average of $98.60 and a 200 day simple moving average of $92.59. The company has a market capitalization of $28.80 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. 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 (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’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 company earned $2.04 EPS. Research analysts expect that State Street Co. will post 9.65 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. Wells Fargo & Company upped 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.73.

Insider Buying and Selling at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the firm’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 sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 27,020 shares of company stock worth $2,674,661 over the last 90 days. Insiders own 0.31% of the company’s stock.

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.