State Street Co. (NYSE:STT) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC trimmed its stake in State Street Co. (NYSE:STT) by 38.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,670 shares of the asset manager’s stock after selling 4,116 shares during the period. Bryn Mawr Capital Management LLC’s holdings in State Street were worth $655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STT. Albion Financial Group UT purchased a new position in shares of State Street during the fourth quarter worth about $25,000. Y.D. More Investments Ltd boosted its position 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 period. Coastline Trust Co purchased a new position in State Street during the 3rd quarter worth approximately $44,000. Friedenthal Financial acquired a new position in State Street during the fourth quarter worth approximately $49,000. Finally, Hager Investment Management Services LLC purchased a new stake in State Street in the fourth quarter valued at approximately $56,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Up 0.2 %

NYSE:STT opened at $97.57 on Friday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $98.57 and a two-hundred day moving average price of $93.35. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $2.04 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.12%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was 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 $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price 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 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a report on Friday, December 20th. Barclays raised their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street 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.