State Street Co. (NYSE:STT) Shares Sold by Forbes J M & Co. LLP

Forbes J M & Co. LLP reduced its position in shares of State Street Co. (NYSE:STT) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,269 shares of the asset manager’s stock after selling 843 shares during the quarter. Forbes J M & Co. LLP’s holdings in State Street were worth $419,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in State Street by 0.6% in the third 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 last quarter. FMR LLC boosted its stake in shares of 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 acquiring an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of State Street by 30.4% in 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 acquiring an additional 1,354,560 shares during the last quarter. Metropolis Capital Ltd raised its position in shares of State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on STT shares. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research 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 stock an “overweight” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $100.73.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

State Street Price Performance

NYSE STT opened at $99.44 on Friday. The stock has a market capitalization of $29.15 billion, a PE ratio of 12.07, a P/E/G ratio of 1.12 and a beta of 1.43. The stock has a 50-day simple moving average of $98.53 and a 200 day simple moving average of $91.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. Research analysts anticipate that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is presently 36.89%.

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.