State Street Co. (NYSE:STT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in State Street Co. (NYSE:STT) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,745 shares of the asset manager’s stock after selling 96,523 shares during the quarter. Victory Capital Management Inc. owned 0.12% of State Street worth $27,866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. HBK Sorce Advisory LLC lifted its position in shares of State Street by 0.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager’s stock valued at $1,348,000 after acquiring an additional 151 shares during the last quarter. Syon Capital LLC lifted its holdings in shares of State Street by 3.7% during the fourth quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 168 shares during the last quarter. Cardinal Capital Management lifted its holdings 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 valued at $3,822,000 after purchasing an additional 174 shares during the last quarter. Mathes Company Inc. boosted its position in shares of State Street by 0.5% in the 3rd quarter. Mathes Company Inc. now owns 32,550 shares of the asset manager’s stock valued at $2,180,000 after purchasing an additional 175 shares during the period. Finally, Lido Advisors LLC increased its stake in State Street by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after purchasing an additional 178 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. UBS Group raised their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods dropped their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. JPMorgan Chase & Co. raised their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Argus upped their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Two research 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 MarketBeat, State Street has a consensus rating of “Hold” and an average target price of $84.04.

State Street Stock Performance

Shares of STT opened at $75.35 on Wednesday. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The company’s fifty day moving average is $74.34 and its 200-day moving average is $73.24. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90.

State Street (NYSE:STT) last posted its earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. Equities analysts expect that State Street Co. will post 7.96 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.66%. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Insider Buying and Selling

In other news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction that occurred 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 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 SEC, which is available at the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction dated 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 in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by insiders.

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.