Candriam S.C.A. Sells 2,182 Shares of State Street Co. (NYSE:STT)

Candriam S.C.A. lowered its holdings in State Street Co. (NYSE:STT) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,567 shares of the asset manager’s stock after selling 2,182 shares during the quarter. Candriam S.C.A.’s holdings in State Street were worth $4,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Albion Financial Group UT bought a new stake in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd lifted 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 worth $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street during the 4th quarter worth approximately $42,000. Coastline Trust Co bought a new stake in shares of State Street during the 3rd quarter worth approximately $44,000. Finally, Friedenthal Financial bought a new stake in shares of State Street during the 4th quarter worth approximately $49,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $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 accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Down 0.1 %

State Street stock opened at $89.72 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The firm has a market capitalization of $25.88 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm’s fifty day moving average price is $97.91 and its two-hundred day moving average price is $94.02. 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 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.39%. State Street’s dividend payout ratio is currently 36.89%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STT. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their price objective 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. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.20.

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.