South Dakota Investment Council Sells 39,849 Shares of State Street Co. (NYSE:STT)

South Dakota Investment Council lowered its position in State Street Co. (NYSE:STT) by 24.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 121,247 shares of the asset manager’s stock after selling 39,849 shares during the period. South Dakota Investment Council’s holdings in State Street were worth $11,900,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Albion Financial Group UT bought a new position in State Street in the 4th quarter worth $25,000. Y.D. More Investments Ltd lifted its stake in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Coastline Trust Co purchased a new stake in State Street in the 3rd quarter worth $44,000. Friedenthal Financial purchased a new stake in State Street in the 4th quarter worth $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in State Street in the 3rd quarter worth $54,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock opened at $98.74 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. 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 $28.48 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company’s 50-day moving average is $98.55 and its 200 day moving average is $92.90.

State Street (NYSE:STT) last posted 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. The company 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 firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 EPS. Research analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

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 paid 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 3.08%. State Street’s dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock worth $2,674,661 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on STT shares. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $100.73.

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.