Cambridge Trust Co. Sells 145 Shares of State Street Co. (NYSE:STT)

Cambridge Trust Co. reduced its holdings in shares of State Street Co. (NYSE:STT) by 13.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 932 shares of the asset manager’s stock after selling 145 shares during the quarter. Cambridge Trust Co.’s holdings in State Street were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Raymond James Trust N.A. raised its position in shares of State Street by 29.3% in the first quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager’s stock valued at $392,000 after purchasing an additional 1,021 shares during the period. Blair William & Co. IL raised its holdings in State Street by 14.3% in the 1st quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock valued at $1,547,000 after acquiring an additional 2,216 shares during the period. Sei Investments Co. lifted its position in State Street by 3.8% during the first quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock worth $24,436,000 after acquiring an additional 10,187 shares during the last quarter. Prudential PLC acquired a new stake in State Street during the first quarter worth approximately $812,000. Finally, Cetera Investment Advisers boosted its holdings in shares of State Street by 16.5% during the first quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager’s stock worth $2,019,000 after acquiring an additional 3,276 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Bank of America reissued an “underperform” rating and set a $81.00 target price on shares of State Street in a report on Thursday, January 4th. Evercore ISI upped their price target on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Barclays lifted their price objective on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley increased their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus target price of $84.04.

Insiders Place Their Bets

In other news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the transaction, the executive vice president now owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, 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 SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the 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 completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Over the last quarter, 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 Stock Up 0.5 %

Shares of STT opened at $73.37 on Friday. The firm has a 50 day simple moving average of $74.00 and a two-hundred day simple moving average of $72.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. State Street Co. has a one year low of $62.78 and a one year high of $79.90. The company has a market cap of $22.15 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. State Street’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 EPS. Research analysts forecast that State Street Co. will post 7.93 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is presently 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.