Brandywine Global Investment Management LLC Sells 13,192 Shares of State Street Co. (NYSE:STT)

Brandywine Global Investment Management LLC trimmed its stake in shares of State Street Co. (NYSE:STT) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 178,399 shares of the asset manager’s stock after selling 13,192 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in State Street were worth $17,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STT. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd increased its stake 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 purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the 4th quarter worth $42,000. Loomis Sayles & Co. L P lifted its position in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in State Street in the fourth quarter valued at about $49,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Down 3.1 %

State Street stock opened at $88.95 on Monday. The company has a market capitalization of $25.66 billion, a PE ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm’s fifty day moving average is $95.35 and its 200 day moving average is $94.56. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.04 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 3.42%. State Street’s payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

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

Analysts Set New Price Targets

Several research analysts have commented on STT shares. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Citigroup cut their target price on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley cut their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $101.53.

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.