Ninety One UK Ltd Sells 171,456 Shares of State Street Co. (NYSE:STT)

Ninety One UK Ltd lowered its stake in shares of State Street Co. (NYSE:STT) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,825,969 shares of the asset manager’s stock after selling 171,456 shares during the period. Ninety One UK Ltd owned 0.59% of State Street worth $141,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in shares of State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its stake in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in State Street in the 4th quarter valued at about $35,000. State of Wyoming lifted its position in State Street by 51.3% during the second quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after acquiring an additional 210 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of State Street by 69.2% during the first quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock worth $50,000 after acquiring an additional 234 shares during the period. 87.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Argus boosted their price target on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada lifted their price target on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Evercore ISI raised their price objective on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. increased their target price on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Bank of America restated an “underperform” rating and issued a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.04.

Insider Buying and Selling

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

State Street Trading Up 0.0 %

Shares of NYSE:STT traded up $0.01 during mid-day trading on Thursday, reaching $72.82. 672,523 shares of the company’s stock were exchanged, compared to its average volume of 2,268,590. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.30 and a beta of 1.52. The business’s fifty day moving average price is $73.97 and its 200-day moving average price is $72.37.

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, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.07 EPS. On average, research analysts predict that State Street Co. will post 7.91 EPS for the current fiscal year.

State Street Dividend Announcement

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

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.