TIAA Trust National Association Reduces Stock Position in State Street Co. (NYSE:STT)

TIAA Trust National Association reduced its holdings in shares of State Street Co. (NYSE:STT) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,370 shares of the asset manager’s stock after selling 235 shares during the quarter. TIAA Trust National Association’s holdings in State Street were worth $1,410,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in STT. Albion Financial Group UT purchased a new position in State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd boosted its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street in the 4th quarter valued at $42,000. Friedenthal Financial acquired a new stake in State Street during the 4th quarter worth $49,000. Finally, Hager Investment Management Services LLC purchased a new stake in State Street in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on STT. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock 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 company an “overweight” rating in a research note on Monday, January 6th. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley reduced their price target on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $101.87.

Insiders Place Their Bets

In other news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was 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 owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

State Street Stock Performance

Shares of STT stock opened at $91.82 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $95.53 and a 200-day simple moving average of $94.36. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last released its quarterly earnings data 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 firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. On average, equities analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

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