Cibc World Markets Corp Has $4.54 Million Stake in State Street Co. (NYSE:STT)

Cibc World Markets Corp decreased its position in shares of State Street Co. (NYSE:STT) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,279 shares of the asset manager’s stock after selling 11,611 shares during the period. Cibc World Markets Corp’s holdings in State Street were worth $4,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of STT. OneDigital Investment Advisors LLC acquired a new stake in shares of State Street during the third quarter worth approximately $270,000. Empowered Funds LLC increased its holdings in shares of State Street by 11.4% during the third quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager’s stock worth $432,000 after buying an additional 504 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of State Street by 1.2% during the third quarter. Pathstone Holdings LLC now owns 74,575 shares of the asset manager’s stock worth $6,598,000 after buying an additional 856 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of State Street by 118.9% during the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after purchasing an additional 23,171 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of State Street in the third quarter valued at approximately $3,565,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on STT. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Morgan Stanley dropped their target price on 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, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.20.

Insider Activity

In related news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents 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 company insiders.

State Street Price Performance

Shares of STT stock opened at $90.33 on Thursday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $96.14 and a 200-day moving average of $94.16.

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

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is 36.89%.

About State Street

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.