Catalyst Capital Advisors LLC Lowers Stake in State Street Co. (NYSE:STT)

Catalyst Capital Advisors LLC lessened its stake in State Street Co. (NYSE:STT) by 67.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 726 shares of the asset manager’s stock after selling 1,507 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in State Street were worth $71,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of STT. Exchange Traded Concepts LLC lifted its holdings in shares of State Street by 2,137.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock worth $144,000 after buying an additional 1,560 shares in the last quarter. Creative Planning lifted its holdings in shares of State Street by 13.4% in the third quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock worth $1,846,000 after buying an additional 2,470 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of State Street by 55.6% in the third quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock worth $394,000 after buying an additional 1,591 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of State Street by 17.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,545 shares of the asset manager’s stock worth $314,000 after buying an additional 529 shares in the last quarter. Finally, Eastern Bank lifted its holdings in shares of State Street by 1.4% in the third quarter. Eastern Bank now owns 42,299 shares of the asset manager’s stock worth $3,742,000 after buying an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Morgan Stanley reduced their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Wells Fargo & Company boosted their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One 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 stock. According to MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $100.73.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

State Street Trading Up 1.2 %

STT stock opened at $100.40 on Wednesday. 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 twelve month low of $70.20 and a twelve month high of $103.00. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The firm’s fifty day simple moving average is $98.58 and its two-hundred day simple moving average is $92.40.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business posted $2.04 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that State Street Co. will post 9.6 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Thursday, January 2nd. 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.