Catalyst Funds Management Pty Ltd Has $451,000 Holdings in State Street Co. (NYSE:STT)

Catalyst Funds Management Pty Ltd boosted its position in shares of State Street Co. (NYSE:STT) by 27.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,600 shares of the asset manager’s stock after purchasing an additional 1,000 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in State Street were worth $451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. lifted its stake in State Street by 4.0% in the 3rd quarter. Assetmark Inc. now owns 5,193 shares of the asset manager’s stock valued at $459,000 after acquiring an additional 201 shares in the last quarter. Apollon Wealth Management LLC grew its position in State Street by 2.5% in the third quarter. Apollon Wealth Management LLC now owns 9,912 shares of the asset manager’s stock valued at $877,000 after purchasing an additional 241 shares in the last quarter. KBC Group NV lifted its position in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after buying an additional 12,707 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of State Street by 4.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,124 shares of the asset manager’s stock worth $719,000 after buying an additional 351 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of State Street in the 3rd quarter valued at about $216,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction that occurred 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 owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the business’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 transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This 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 Stock Performance

NYSE:STT opened at $86.90 on Friday. The stock has a 50 day simple moving average of $96.69 and a 200 day simple moving average of $94.10. The stock has a market cap of $25.07 billion, a P/E ratio of 10.55, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping 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 company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm earned $2.04 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm 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 $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is currently 36.89%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on STT shares. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Barclays boosted their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, Morgan Stanley lowered their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.20.

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.