Syon Capital LLC Sells 324 Shares of State Street Co. (NYSE:STT)

Syon Capital LLC reduced its position in State Street Co. (NYSE:STT) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,580 shares of the asset manager’s stock after selling 324 shares during the quarter. Syon Capital LLC’s holdings in State Street were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in State Street in the 4th quarter worth $272,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of State Street by 3.3% in 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 acquiring an additional 14,476 shares during the period. Charles Schwab Investment Management Inc. grew 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 in the last quarter. Janney Montgomery Scott LLC raised its stake in State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares during the period. Finally, Merit Financial Group LLC purchased a new position in State Street in the 4th quarter worth approximately $395,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a report on Monday. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday. Morgan Stanley decreased 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 note on Wednesday, April 2nd. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Citigroup decreased their target price on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus target price of $102.15.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $87.55 on Friday. The business’s 50 day moving average price is $88.07 and its 200-day moving average price is $93.65. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a market cap of $25.27 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.11 and a beta of 1.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the previous year, the business posted $1.69 earnings per share. Sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.47%. The ex-dividend date was Tuesday, April 1st. State Street’s payout ratio is currently 34.12%.

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.