Hartford Investment Management Co. Has $1.78 Million Position in State Street Co. (NYSE:STT)

Hartford Investment Management Co. lessened its holdings in State Street Co. (NYSE:STT) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,106 shares of the asset manager’s stock after selling 774 shares during the quarter. Hartford Investment Management Co.’s holdings in State Street were worth $1,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Albion Financial Group UT bought a new position in shares of State Street during the fourth quarter valued at $25,000. Y.D. More Investments Ltd lifted its holdings 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 worth $36,000 after buying an additional 197 shares during the period. Coastline Trust Co acquired a new position in State Street during the 3rd quarter worth about $44,000. Friedenthal Financial acquired a new stake in shares of State Street in the fourth quarter valued at about $49,000. Finally, Hager Investment Management Services LLC bought a new position in shares of State Street during the fourth quarter worth about $56,000. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of NYSE:STT opened at $99.05 on Friday. The stock’s 50 day moving average is $98.56 and its 200-day moving average is $92.05. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $29.04 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $2.04 earnings per share. Sell-side analysts forecast that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Morgan Stanley cut their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.73.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.