Mesirow Financial Investment Management Inc. Sells 124 Shares of State Street Co. (NYSE:STT)

Mesirow Financial Investment Management Inc. decreased its position in shares of State Street Co. (NYSE:STT) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,719 shares of the asset manager’s stock after selling 124 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in State Street were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd grew its holdings in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in State Street during the fourth quarter worth $42,000. Coastline Trust Co bought a new stake in State Street during the third quarter worth $44,000. Finally, Friedenthal Financial bought a new stake in State Street during the fourth quarter worth $49,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $89.72 on Friday. The business’s 50-day moving average price is $97.91 and its two-hundred day moving average price is $94.02. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The stock has a market cap of $25.88 billion, a P/E ratio of 10.89, a PEG ratio of 1.11 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the firm posted $2.04 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company 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 dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.39%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction 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. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated 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 owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Morgan Stanley decreased their price target on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus target price of $101.20.

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.