Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 26,500 Shares of State Street Co. (NYSE:STT)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of State Street Co. (NYSE:STT) by 28.8% in the fourth quarter, Holdings Channel reports. The firm owned 65,522 shares of the asset manager’s stock after selling 26,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in State Street were worth $6,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of STT. Albion Financial Group UT bought a new stake in State Street during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd boosted its holdings in shares of State Street by 116.6% during 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. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter valued at about $44,000. Friedenthal Financial purchased a new stake in shares of State Street during the 4th quarter valued at about $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of State Street during the 3rd quarter valued at about $54,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. Wells Fargo & Company raised their price target 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 raised their price target 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. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, State Street has an average rating of “Hold” and a consensus price target of $100.73.

State Street Price Performance

NYSE STT opened at $98.56 on Tuesday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.11 and a beta of 1.43. The company’s 50 day moving average is $98.50 and its two-hundred day moving average is $93.16. 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 earnings results 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 company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business earned $2.04 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Insiders Place Their Bets

In other news, EVP Ann Fogarty sold 3,705 shares of State Street 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 sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on 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 sale, the director now owns 100,023 shares in the company, 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. 0.31% of the stock is owned by company 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.