Mathes Company Inc. Cuts Stake in State Street Co. (NYSE:STT)

Mathes Company Inc. decreased its holdings in State Street Co. (NYSE:STT) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,450 shares of the asset manager’s stock after selling 450 shares during the period. Mathes Company Inc.’s holdings in State Street were worth $2,105,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in STT. Exchange Traded Concepts LLC boosted its stake in shares of State Street by 2,137.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock valued at $144,000 after purchasing an additional 1,560 shares in the last quarter. Creative Planning raised its holdings in State Street by 13.4% during the 3rd quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock valued at $1,846,000 after buying an additional 2,470 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in State Street by 2.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,417 shares of the asset manager’s stock valued at $2,779,000 after buying an additional 713 shares during the last quarter. Blue Trust Inc. raised its holdings in State Street by 55.6% during the 3rd quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock valued at $394,000 after buying an additional 1,591 shares during the last quarter. Finally, Plimoth Trust Co. LLC raised its holdings in State Street by 32.3% during the 3rd quarter. Plimoth Trust Co. LLC now owns 3,895 shares of the asset manager’s stock valued at $345,000 after buying an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on STT shares. Morgan Stanley lowered their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street has a consensus rating of “Hold” and an average price target of $100.73.

State Street Stock Up 0.1 %

Shares of State Street stock opened at $99.16 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50-day moving average of $98.59 and a 200 day moving average of $92.24. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.12 and a beta of 1.43. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during 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%. State Street’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.04 EPS. As a group, sell-side analysts anticipate that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.07%. State Street’s payout ratio is 36.89%.

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.