US Bancorp DE Sells 535 Shares of State Street Co. (NYSE:STT)

US Bancorp DE reduced its stake in shares of State Street Co. (NYSE:STT) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 100,989 shares of the asset manager’s stock after selling 535 shares during the period. US Bancorp DE’s holdings in State Street were worth $9,912,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in State Street by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after buying an additional 41,442 shares during the period. FMR LLC raised its holdings in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after buying an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after buying an additional 1,354,560 shares during the period. Franklin Resources Inc. raised its holdings in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after buying an additional 408,792 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in State Street by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,421,569 shares of the asset manager’s stock worth $214,236,000 after buying an additional 23,252 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on STT shares. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, State Street presently has an average rating of “Hold” and an average target price of $100.73.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of STT opened at $96.86 on Tuesday. The company has a market cap of $27.94 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company’s fifty day simple moving average is $98.56 and its 200 day simple moving average is $93.83. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the business posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.14%. State Street’s dividend payout ratio (DPR) is 36.89%.

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.