CKW Financial Group Sells 200 Shares of State Street Co. (NYSE:STT)

CKW Financial Group reduced its stake in shares of State Street Co. (NYSE:STT) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 550 shares of the asset manager’s stock after selling 200 shares during the period. CKW Financial Group’s holdings in State Street were worth $54,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Peapack Gladstone Financial Corp lifted its position in shares of State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after purchasing an additional 103 shares during the last quarter. Rockland Trust Co. increased its stake in State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after buying an additional 150 shares during the period. Empirical Finance LLC lifted its holdings in State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after buying an additional 180 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of State Street by 3.3% during the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock worth $512,000 after acquiring an additional 184 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $99.09 on Monday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a fifty day moving average price of $98.00 and a 200-day moving average price of $90.58. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $29.05 billion, a PE ratio of 12.03, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3,267,560 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. Equities research analysts predict that State Street Co. will post 9.43 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. State Street’s dividend payout ratio is currently 36.89%.

Analysts Set New Price Targets

Several research analysts recently issued reports on STT shares. Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.73.

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.