Piscataqua Savings Bank Lowers Stock Holdings in State Street Co. (NYSE:STT)

Piscataqua Savings Bank lowered its position in State Street Co. (NYSE:STT) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,937 shares of the asset manager’s stock after selling 130 shares during the period. Piscataqua Savings Bank’s holdings in State Street were worth $386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV grew its position in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings 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 buying an additional 23,171 shares during the last quarter. Merit Financial Group LLC bought a new position in State Street in the 4th quarter valued at about $395,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after buying an additional 20,968 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred 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 sale, the executive vice president now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

State Street Stock Up 1.6 %

State Street stock opened at $99.09 on Monday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a market capitalization of $29.05 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day simple moving average of $98.00 and a 200-day simple moving average of $90.58.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3,267,560 billion. During the same period in the previous year, the firm posted $2.04 EPS. State Street’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that State Street Co. will post 9.43 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.07%. State Street’s payout ratio is presently 36.89%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reissued 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, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Company 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.