Amalgamated Bank Sells 3,254 Shares of State Street Co. (NYSE:STT)

Amalgamated Bank lessened its stake in shares of State Street Co. (NYSE:STT) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,528 shares of the asset manager’s stock after selling 3,254 shares during the quarter. Amalgamated Bank’s holdings in State Street were worth $6,780,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. CVA Family Office LLC bought a new stake in State Street during the fourth quarter valued at about $27,000. Venturi Wealth Management LLC grew its holdings in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of State Street during the fourth quarter worth approximately $35,000. Bruce G. Allen Investments LLC acquired a new stake in shares of State Street in the fourth quarter worth $51,000. Finally, GAMMA Investing LLC bought a new position in State Street during the fourth quarter worth $75,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STT. Royal Bank of Canada boosted their price target on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Argus increased their price objective on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, Morgan Stanley lifted their price objective on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus target price of $84.04.

Insider Buying and Selling

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,864 shares of company stock worth $1,390,597. Company insiders own 0.31% of the company’s stock.

State Street Trading Up 1.6 %

Shares of State Street stock opened at $74.39 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a 50-day moving average of $74.26 and a 200-day moving average of $73.11. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The stock has a market cap of $22.41 billion, a PE ratio of 13.93, a PEG ratio of 1.32 and a beta of 1.52.

State Street (NYSE:STT) last announced its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.06 billion. As a group, sell-side analysts forecast that State Street Co. will post 7.96 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 3.71%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is currently 51.69%.

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.