Twin Capital Management Inc. Has $1.56 Million Stake in State Street Co. (NYSE:STT)

Twin Capital Management Inc. cut its position in State Street Co. (NYSE:STT) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,114 shares of the asset manager’s stock after selling 183 shares during the quarter. Twin Capital Management Inc.’s holdings in State Street were worth $1,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. CVA Family Office LLC acquired a new position in shares of State Street in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC raised its position in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of State Street in the 4th quarter valued at approximately $35,000. State of Wyoming raised its position in shares of State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after buying an additional 210 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after buying an additional 234 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, 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 SEC, which is available at the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction 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 owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by insiders.

State Street Trading Up 0.3 %

STT opened at $73.04 on Friday. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52. The company’s 50 day moving average price is $73.99 and its two-hundred day moving average price is $72.37.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS 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 company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the firm posted $2.07 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts predict that State Street Co. will post 7.91 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on STT shares. Morgan Stanley lifted their price target on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday. Barclays lifted their price target on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI lifted their price target on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price target on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Finally, UBS Group lifted their price target on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.04.

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.