State Street Co. (NYSE:STT) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in State Street Co. (NYSE:STT) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,720 shares of the asset manager’s stock after selling 3,141 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in State Street were worth $1,641,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in STT. Loomis Sayles & Co. L P grew its position in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after acquiring an additional 311 shares during the last quarter. NEOS Investment Management LLC boosted its stake in State Street by 29.7% during the 4th quarter. NEOS Investment Management LLC now owns 16,273 shares of the asset manager’s stock valued at $1,585,000 after purchasing an additional 3,728 shares during the period. Elo Mutual Pension Insurance Co grew its position in State Street by 17.1% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 31,178 shares of the asset manager’s stock worth $3,060,000 after purchasing an additional 4,561 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock valued at $44,725,000 after purchasing an additional 14,476 shares during the period. Finally, Trust Investment Advisors bought a new stake in shares of State Street during the fourth quarter valued at approximately $234,000. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays raised their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of 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 lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. 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 report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.87.

State Street Trading Down 0.9 %

Shares of NYSE STT opened at $91.82 on Friday. 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 Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.11 and a beta of 1.44. The business has a fifty day simple moving average of $95.53 and a 200-day simple moving average of $94.36.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 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 analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company posted $2.04 earnings per share. Sell-side analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company’s stock, 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. Company 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.