Crestline Management LP Buys 54,983 Shares of State Street Co. (NYSE:STT)

Crestline Management LP grew its position in shares of State Street Co. (NYSE:STT) by 488.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,244 shares of the asset manager’s stock after purchasing an additional 54,983 shares during the period. Crestline Management LP’s holdings in State Street were worth $6,502,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STT. Albion Financial Group UT bought a new position in State Street during the fourth quarter valued at $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in State Street during the fourth quarter valued at approximately $42,000. Coppell Advisory Solutions LLC raised its holdings in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after buying an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on STT. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Citigroup lowered their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods cut their price target on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a “buy” rating in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $102.15.

State Street Stock Performance

Shares of State Street stock opened at $90.74 on Wednesday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a market capitalization of $26.19 billion, a PE ratio of 11.01, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50-day simple moving average of $86.53 and a two-hundred day simple moving average of $93.58.

State Street (NYSE:STT) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.35%. State Street’s dividend payout ratio (DPR) is 34.12%.

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.