Private Wealth Partners LLC Reduces Position in State Street Co. (NYSE:STT)

Private Wealth Partners LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 10.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,079 shares of the asset manager’s stock after selling 500 shares during the period. Private Wealth Partners LLC’s holdings in State Street were worth $400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STT. Flagship Harbor Advisors LLC bought a new stake in shares of State Street in the fourth quarter worth $272,000. KBC Group NV grew its holdings in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after acquiring an additional 12,707 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of State Street in the 4th quarter worth about $395,000. Janney Montgomery Scott LLC raised its stake in shares of State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and an average target price of $100.73.

Insider Buying and Selling 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 shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 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. In the last 90 days, insiders have sold 27,020 shares of company stock valued at $2,674,661. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of NYSE STT opened at $99.82 on Thursday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a market cap of $28.80 billion, a PE ratio of 12.11, a P/E/G ratio of 1.12 and a beta of 1.43. The stock has a 50 day simple moving average of $98.60 and a 200-day simple moving average of $92.59. 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 announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 EPS. On average, equities research analysts forecast that State Street Co. will post 9.65 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. State Street’s dividend payout ratio is presently 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.