State Street Co. (NYSE:STT) Stock Position Lowered by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its position in State Street Co. (NYSE:STT) by 4.0% in the 4th quarter, Holdings Channel reports. The fund owned 55,344 shares of the asset manager’s stock after selling 2,296 shares during the period. Vontobel Holding Ltd.’s holdings in State Street were worth $4,287,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise lifted its position in shares of State Street by 54.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 3,841 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in State Street in the 4th quarter valued at approximately $45,687,000. Crestwood Advisors Group LLC increased its stake in State Street by 11.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock valued at $5,562,000 after buying an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in State Street by 3.7% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock valued at $37,522,000 after buying an additional 17,270 shares during the period. Finally, Private Management Group Inc. acquired a new position in State Street in the 3rd quarter valued at approximately $36,022,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on STT. Morgan Stanley upped their price objective on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group increased their price target on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Barclays increased their price target on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Argus increased their price target on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.04.

Insider Buying and Selling at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock valued at $1,390,597 in the last ninety days. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $72.81 on Thursday. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The firm’s fifty day simple moving average is $73.97 and its 200 day simple moving average is $72.37. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $21.98 billion, a PE ratio of 13.63, a PEG ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $2.07 EPS. The business’s revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that State Street Co. will post 7.91 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is presently 51.69%.

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.