National Bank of Canada FI Has $13.49 Million Stake in State Street Co. (NYSE:STT)

National Bank of Canada FI lessened its position in State Street Co. (NYSE:STT) by 84.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,435 shares of the asset manager’s stock after selling 750,711 shares during the quarter. National Bank of Canada FI’s holdings in State Street were worth $13,490,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Albion Financial Group UT bought a new position in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its stake in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing 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 worth approximately $42,000. Loomis Sayles & Co. L P lifted its holdings in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 311 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of State Street during the 4th quarter worth about $49,000. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on STT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report 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 report on Friday, March 28th. Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, State Street has a consensus rating of “Hold” and an average price target of $101.07.

State Street Trading Down 8.0 %

Shares of State Street stock opened at $76.23 on Friday. The business’s 50 day moving average is $94.09 and its 200-day moving average is $94.47. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The stock has a market cap of $21.99 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its quarterly earnings data 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 firm 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 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 business posted $2.04 earnings per share. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.99%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Transactions at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm’s 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 transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction 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 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.

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.