Sei Investments Co. Trims Position in State Street Co. (NYSE:STT)

Sei Investments Co. decreased its position in shares of State Street Co. (NYSE:STT) by 10.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 435,307 shares of the asset manager’s stock after selling 49,102 shares during the quarter. Sei Investments Co. owned approximately 0.15% of State Street worth $42,724,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of State Street by 2.4% in the fourth quarter. American Century Companies Inc. now owns 335,668 shares of the asset manager’s stock worth $32,946,000 after acquiring an additional 7,833 shares during the period. Mizuho Securities USA LLC lifted its holdings in State Street by 43.5% in the 4th quarter. Mizuho Securities USA LLC now owns 27,784 shares of the asset manager’s stock worth $2,727,000 after purchasing an additional 8,420 shares in the last quarter. Millstone Evans Group LLC bought a new position in State Street in the 4th quarter worth approximately $105,000. Northwest & Ethical Investments L.P. grew its holdings in State Street by 141.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,590 shares of the asset manager’s stock valued at $2,315,000 after buying an additional 13,838 shares in the last quarter. Finally, Magnetar Financial LLC raised its position in shares of State Street by 77.0% during the fourth quarter. Magnetar Financial LLC now owns 4,167 shares of the asset manager’s stock valued at $409,000 after buying an additional 1,813 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 2.6 %

Shares of NYSE STT opened at $92.87 on Tuesday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The stock’s fifty day simple moving average is $95.90 and its two-hundred day simple moving average is $94.33. The stock has a market capitalization of $26.79 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. 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 issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the business posted $2.04 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STT. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Barclays raised their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Citigroup cut their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $101.87.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street 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. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company’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 transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was 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.

State Street Company 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.