AXQ Capital LP Sells 1,640 Shares of State Street Co. (NYSE:STT)

AXQ Capital LP decreased its position in State Street Co. (NYSE:STT) by 41.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,307 shares of the asset manager’s stock after selling 1,640 shares during the quarter. AXQ Capital LP’s holdings in State Street were worth $226,000 at the end of the most recent quarter.

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

State Street Price Performance

Shares of State Street stock opened at $92.87 on Tuesday. 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 52 week low of $70.20 and a 52 week high of $103.00. The stock’s 50-day simple moving average is $95.90 and its 200-day simple moving average is $94.33. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.04 EPS. As a group, analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Ratings Changes

STT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley cut their price target on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.87.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % 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.