WASHINGTON TRUST Co Sells 440 Shares of State Street Co. (NYSE:STT)

WASHINGTON TRUST Co reduced its holdings in shares of State Street Co. (NYSE:STT) by 5.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,989 shares of the asset manager’s stock after selling 440 shares during the quarter. WASHINGTON TRUST Co’s holdings in State Street were worth $784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. Exchange Traded Concepts LLC lifted its stake in shares of State Street by 2,137.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock worth $144,000 after acquiring an additional 1,560 shares during the last quarter. Creative Planning raised its position in State Street by 13.4% during the 3rd quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock valued at $1,846,000 after purchasing an additional 2,470 shares in the last quarter. Vontobel Holding Ltd. raised its position in State Street by 3.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,033 shares of the asset manager’s stock valued at $2,303,000 after purchasing an additional 791 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in State Street by 2.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,417 shares of the asset manager’s stock valued at $2,779,000 after purchasing an additional 713 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in State Street by 32.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 9,129 shares of the asset manager’s stock valued at $808,000 after purchasing an additional 2,241 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STT. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Stock Up 0.1 %

Shares of STT stock opened at $99.16 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The stock’s fifty day moving average price is $98.59 and its 200 day moving average price is $92.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $29.07 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.04 EPS. On average, research analysts expect that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.07%. State Street’s payout ratio is presently 36.89%.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

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.