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

Carnegie Capital Asset Management LLC decreased its holdings in shares of State Street Co. (NYSE:STT) by 20.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,834 shares of the asset manager’s stock after selling 3,299 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in State Street were worth $994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lecap Asset Management Ltd. acquired a new stake in State Street during the fourth quarter worth $2,769,000. Louisiana State Employees Retirement System acquired a new stake in State Street during the fourth quarter worth $1,449,000. NewEdge Wealth LLC purchased a new position in shares of State Street during the fourth quarter worth $522,000. Cardinal Capital Management boosted its position in shares of State Street by 0.4% during the fourth quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager’s stock worth $3,822,000 after buying an additional 174 shares during the period. Finally, Impax Asset Management Group plc boosted its position in shares of State Street by 2.8% during the fourth quarter. Impax Asset Management Group plc now owns 7,072 shares of the asset manager’s stock worth $548,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of STT stock opened at $73.02 on Wednesday. The stock has a market capitalization of $22.05 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The stock’s 50-day moving average price is $73.98 and its 200 day moving average price is $72.36. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last announced its quarterly earnings data 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 return on equity of 12.03% and a net margin of 9.62%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that State Street Co. will post 7.87 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed 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 3.78%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is presently 51.69%.

Analyst Upgrades and Downgrades

STT has been the subject of several research analyst reports. Evercore ISI raised their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Barclays lifted their target price on State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. UBS Group lifted their target price on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Argus lifted their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and lifted their target price for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and an average price target 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.