State Street Co. (NYSE:STT) Stock Holdings Lessened by Kings Path Partners LLC

Kings Path Partners LLC trimmed its stake in State Street Co. (NYSE:STT) by 41.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,910 shares of the asset manager’s stock after selling 5,510 shares during the period. Kings Path Partners LLC’s holdings in State Street were worth $776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of STT. KBC Group NV lifted its holdings in shares of State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in 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 worth $12,124,000 after acquiring an additional 20,183 shares during the period. Ensign Peak Advisors Inc grew its stake 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 valued at $10,794,000 after acquiring an additional 41,180 shares in the last quarter. LSV Asset Management increased its holdings in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of State Street by 43.8% in 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 purchasing an additional 20,968 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $99.93.

Insider Activity at State Street

In other news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,460 shares of company stock worth $2,499,860. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT traded up $1.58 during midday trading on Monday, reaching $99.25. The stock had a trading volume of 573,597 shares, compared to its average volume of 1,183,618. The stock has a market capitalization of $29.10 billion, a P/E ratio of 15.68, a PEG ratio of 1.24 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day simple moving average is $96.99 and its 200-day simple moving average is $88.04.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 earnings per share. On average, equities research analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 48.03%.

State Street 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.