Vanguard Group Inc. Sells 220,588 Shares of State Street Co. (NYSE:STT)

Vanguard Group Inc. trimmed its holdings in shares of State Street Co. (NYSE:STT) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,162,642 shares of the asset manager’s stock after selling 220,588 shares during the period. Vanguard Group Inc. owned approximately 0.13% of State Street worth $3,647,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Albion Financial Group UT bought a new position in State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd raised its position in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street during the 4th quarter valued at approximately $42,000. Friedenthal Financial purchased a new stake in shares of State Street during the 4th quarter worth approximately $49,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $56,000. 87.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on STT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley reduced their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, State Street currently has a consensus rating of “Hold” and a consensus price target of $101.87.

Insider Transactions at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred 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 approximately $10,002,300. This represents a 9.76 % 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. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of NYSE STT opened at $92.87 on Tuesday. The stock’s 50-day moving average is $95.90 and its 200 day moving average is $94.33. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

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

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.27%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

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.