Bridge Creek Capital Management LLC Sells 1,120 Shares of State Street Co. (NYSE:STT)

Bridge Creek Capital Management LLC lessened its holdings in State Street Co. (NYSE:STT) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,489 shares of the asset manager’s stock after selling 1,120 shares during the period. State Street makes up about 1.4% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Bridge Creek Capital Management LLC’s holdings in State Street were worth $4,563,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of State Street in the 2nd quarter worth $27,000. Coastline Trust Co purchased a new position in State Street in the third quarter worth about $44,000. Capital Performance Advisors LLP bought a new stake in State Street during the third quarter worth approximately $54,000. Versant Capital Management Inc lifted its stake in shares of State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 197 shares during the last quarter. Finally, Tobam bought a new stake in shares of State Street in the 3rd quarter valued at approximately $77,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.1 %

Shares of STT stock traded down $0.05 during trading hours on Monday, reaching $93.86. 1,212,955 shares of the company’s stock were exchanged, compared to its average volume of 1,602,687. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The stock’s 50 day moving average is $97.41 and its 200-day moving average is $88.90. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The company has a market cap of $27.52 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Analysts predict that State Street Co. will post 8.42 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, January 2nd. State Street’s dividend payout ratio is presently 48.03%.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Barclays increased their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $100.33.

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.