O Shaughnessy Asset Management LLC Reduces Stock Position in State Street Co. (NYSE:STT)

O Shaughnessy Asset Management LLC trimmed its holdings in State Street Co. (NYSE:STT) by 76.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,060 shares of the asset manager’s stock after selling 231,374 shares during the period. O Shaughnessy Asset Management LLC’s holdings in State Street were worth $6,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in STT. Flagship Harbor Advisors LLC bought a new position in State Street during the 4th quarter valued at $272,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of State Street by 3.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock worth $44,725,000 after purchasing an additional 14,476 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of State Street by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after purchasing an additional 10,404 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after buying an additional 7,446 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in State Street during the fourth quarter valued at approximately $395,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the 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 sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

State Street Trading Down 0.8 %

State Street stock opened at $88.82 on Wednesday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $25.62 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm has a 50 day simple moving average of $94.99 and a 200-day simple moving average of $94.65.

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

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STT. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Evercore ISI decreased their target price on State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday. 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 stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price of $102.33.

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.