State Street Co. (NYSE:STT) Holdings Trimmed by Yacktman Asset Management LP

Yacktman Asset Management LP reduced its holdings in State Street Co. (NYSE:STT) by 18.2% in the 4th quarter, Holdings Channel reports. The fund owned 2,427,928 shares of the asset manager’s stock after selling 539,901 shares during the period. State Street makes up about 2.8% of Yacktman Asset Management LP’s portfolio, making the stock its 11th biggest position. Yacktman Asset Management LP’s holdings in State Street were worth $238,301,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Albion Financial Group UT acquired a new position in State Street in the 4th quarter worth about $25,000. Y.D. More Investments Ltd increased its holdings 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 buying an additional 197 shares during the last quarter. Coastline Trust Co bought a new position in State Street during the third quarter valued at approximately $44,000. Friedenthal Financial acquired a new stake in State Street in the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC bought a new stake in State Street in the fourth quarter worth approximately $56,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley cut their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Wells Fargo & Company raised their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $100.73.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

State Street Price Performance

Shares of State Street stock opened at $98.03 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $28.74 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The firm has a fifty day moving average price of $98.53 and a two-hundred day moving average price of $91.82. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating 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 business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the company earned $2.04 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Analysts expect that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is presently 36.89%.

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.