State Street Co. (NYSE:STT) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 22.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,210 shares of the asset manager’s stock after selling 1,200 shares during the quarter. Evanson Asset Management LLC’s holdings in State Street were worth $326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in State Street during the fourth quarter valued at approximately $184,482,000. Morgan Stanley boosted its stake in shares of State Street by 31.1% during the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after acquiring an additional 1,430,237 shares in the last quarter. Eaton Vance Management grew its holdings in shares of State Street by 159.8% in the 1st quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after acquiring an additional 1,077,013 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of State Street by 327.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock valued at $88,750,000 after purchasing an additional 1,015,022 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of State Street in the 4th quarter valued at $45,687,000. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

STT stock traded up $1.12 during trading on Thursday, hitting $77.32. The company had a trading volume of 2,121,676 shares, compared to its average volume of 2,238,809. The company has a fifty day moving average price of $73.46 and a two-hundred day moving average price of $71.71. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $81.37. The company has a market cap of $23.35 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.33 and a beta of 1.52. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.86.

State Street (NYSE:STT) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 10.59% and a return on equity of 11.86%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company posted $2.07 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts expect that State Street Co. will post 7.83 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Monday, April 1st will be given a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.57%. State Street’s payout ratio is 50.27%.

Insider Activity

In other news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock valued at $1,390,597. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of a number of analyst reports. Barclays upped their price objective on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Bank of America reiterated an “underperform” rating and issued a $81.00 target price on shares of State Street in a report on Thursday, January 4th. Keefe, Bruyette & Woods dropped their target price on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Royal Bank of Canada raised their price target on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and upped their price objective for the company from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.83.

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.