Twin Capital Management Inc. Trims Stake in State Street Co. (NYSE:STT)

Twin Capital Management Inc. lessened its holdings in shares of State Street Co. (NYSE:STT) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,114 shares of the asset manager’s stock after selling 183 shares during the quarter. Twin Capital Management Inc.’s holdings in State Street were worth $1,558,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of State Street by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after purchasing an additional 146,048 shares during the period. Invesco Ltd. increased its holdings in State Street by 0.3% in the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after purchasing an additional 29,190 shares in the last quarter. Morgan Stanley increased its holdings in State Street by 31.1% in the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock valued at $467,876,000 after purchasing an additional 1,430,237 shares in the last quarter. JPMorgan Chase & Co. boosted its position in State Street by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock valued at $373,551,000 after buying an additional 469,309 shares during the last quarter. Finally, Northern Trust Corp boosted its position in State Street by 4.1% in the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after buying an additional 180,093 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $73.04 on Friday. The firm’s 50 day moving average is $73.99 and its two-hundred day moving average is $72.37. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a market capitalization of $22.05 billion, a P/E ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $2.07 earnings per share. State Street’s revenue was down 3.5% compared to the same quarter last year. Analysts anticipate that State Street Co. will post 7.91 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.78%. State Street’s dividend payout ratio is presently 51.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Argus increased their price target on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America reaffirmed an “underperform” rating and set a $81.00 price target on shares of State Street in a research report on Thursday, January 4th. Morgan Stanley raised their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods cut their target price on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Finally, Barclays raised their target price on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $84.04.

Insider Activity at State Street

In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the transaction, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 over the last quarter. 0.31% of the stock is currently owned by company insiders.

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.