State Street Co. (NYSE:STT) Position Trimmed by Van ECK Associates Corp

Van ECK Associates Corp decreased its holdings in State Street Co. (NYSE:STT) by 47.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,856 shares of the asset manager’s stock after selling 98,912 shares during the period. Van ECK Associates Corp’s holdings in State Street were worth $8,354,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in shares of State Street by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 115,057 shares of the asset manager’s stock valued at $7,704,000 after buying an additional 3,569 shares during the period. Xponance Inc. boosted its position in State Street by 0.8% during the third quarter. Xponance Inc. now owns 43,577 shares of the asset manager’s stock valued at $2,918,000 after purchasing an additional 352 shares during the last quarter. Raymond James & Associates grew its stake in State Street by 23.2% in the third quarter. Raymond James & Associates now owns 74,589 shares of the asset manager’s stock valued at $4,994,000 after purchasing an additional 14,067 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in State Street by 114.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 173,619 shares of the asset manager’s stock worth $11,626,000 after purchasing an additional 92,564 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of State Street during the 3rd quarter worth about $343,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Up 1.6 %

Shares of STT stock opened at $74.39 on Friday. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm has a market cap of $22.46 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The stock has a 50 day moving average of $74.24 and a 200-day moving average of $72.98.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, March 28th. State Street’s payout ratio is currently 51.69%.

Insider Activity at State Street

In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock worth $1,390,597 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on STT shares. Keefe, Bruyette & Woods dropped their price objective on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Royal Bank of Canada boosted their price target on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Argus upped their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Evercore ISI raised their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.04.

State Street 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.