State Street Co. (NYSE:STT) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its holdings in State Street Co. (NYSE:STT) by 84.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 137,435 shares of the asset manager’s stock after selling 750,711 shares during the quarter. National Bank of Canada FI’s holdings in State Street were worth $13,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new position in State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the 4th quarter worth $42,000. Loomis Sayles & Co. L P grew its position in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares during the period. Finally, Friedenthal Financial purchased a new position in State Street in the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.07.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the 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 sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

State Street Stock Performance

Shares of STT stock opened at $76.23 on Friday. 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 $21.99 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The business has a 50 day simple moving average of $94.09 and a 200 day simple moving average of $94.47. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

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. On average, equities research analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.99%. State Street’s dividend payout ratio (DPR) is presently 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.