State Street Co. (NYSE:STT) Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lowered its holdings in shares of State Street Co. (NYSE:STT) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,767,084 shares of the asset manager’s stock after selling 125,629 shares during the period. State Street comprises 2.6% of Cooke & Bieler LP’s portfolio, making the stock its 4th largest holding. Cooke & Bieler LP owned approximately 1.22% of State Street worth $291,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in State Street during the fourth quarter worth about $27,000. Venturi Wealth Management LLC raised its position in State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in State Street during the fourth quarter worth about $35,000. Covestor Ltd grew 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 buying an additional 234 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of 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 buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Up 0.5 %

NYSE STT opened at $73.37 on Friday. The company’s fifty day simple moving average is $74.00 and its 200-day simple moving average is $72.47. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The stock has a market cap of $22.15 billion, a P/E ratio of 13.74, a PEG ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last posted its 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. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company posted $2.07 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts predict that State Street Co. will post 7.93 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.76%. State Street’s payout ratio is currently 51.69%.

Insider Activity at State Street

In related 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 $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on STT shares. Morgan Stanley lifted their price target on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Keefe, Bruyette & Woods decreased their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Finally, Evercore ISI boosted their price objective on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.04.

About State Street

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.