Quantbot Technologies LP Sells 22,036 Shares of State Street Co. (NYSE:STT)

Quantbot Technologies LP decreased its position in State Street Co. (NYSE:STT) by 55.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,525 shares of the asset manager’s stock after selling 22,036 shares during the period. Quantbot Technologies LP’s holdings in State Street were worth $1,720,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STT. Hotchkis & Wiley Capital Management LLC grew its stake in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. FMR LLC lifted its holdings 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 valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Amundi grew its position in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after purchasing an additional 561,773 shares during the period. Wellington Management Group LLP grew its position in shares of State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after purchasing an additional 462,201 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in State Street during the 4th quarter worth approximately $44,070,000. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT opened at $92.87 on Tuesday. The company has a market cap of $26.79 billion, a price-to-earnings ratio of 11.27, a PEG 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. The company’s fifty day simple moving average is $95.90 and its 200 day simple moving average is $94.33. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business earned $2.04 EPS. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.27%. State Street’s payout ratio is 36.89%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on STT shares. Deutsche Bank Aktiengesellschaft reaffirmed 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. Morgan Stanley cut their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Citigroup lowered their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday. Barclays boosted their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, State Street has a consensus rating of “Hold” and a consensus price target of $101.87.

Insider Activity

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 stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $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.

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.