Meeder Asset Management Inc. Has $18.83 Million Stock Position in State Street Co. (NYSE:STT)

Meeder Asset Management Inc. lessened its holdings in State Street Co. (NYSE:STT) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,841 shares of the asset manager’s stock after selling 17,550 shares during the period. State Street comprises 1.3% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Meeder Asset Management Inc. owned 0.07% of State Street worth $18,829,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in STT. Adero Partners LLC lifted its holdings in shares of State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after buying an additional 103 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after acquiring an additional 121 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in State Street by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock worth $1,799,000 after acquiring an additional 131 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Down 3.1 %

State Street stock opened at $88.95 on Monday. The firm has a 50 day simple moving average of $95.35 and a 200 day simple moving average of $94.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last announced 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 company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that State Street Co. will post 9.68 earnings per share for the current 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 $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 3.42%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STT. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Citigroup cut their target price on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.53.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.