Boston Trust Walden Corp Trims Stock Position in State Street Co. (NYSE:STT)

Boston Trust Walden Corp trimmed its holdings in State Street Co. (NYSE:STT) by 31.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,407 shares of the asset manager’s stock after selling 4,354 shares during the period. Boston Trust Walden Corp’s holdings in State Street were worth $923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after purchasing an additional 41,442 shares during the last quarter. FMR LLC raised its holdings in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after buying an additional 1,354,560 shares during the last quarter. Metropolis Capital Ltd boosted its stake in State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after buying an additional 161,466 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STT. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Finally, Evercore ISI boosted their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus target price of $100.73.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

State Street Stock Up 0.3 %

State Street stock opened at $98.42 on Wednesday. The stock has a market cap of $28.85 billion, a PE ratio of 11.94, a P/E/G ratio of 1.14 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 stock’s fifty day moving average is $98.49 and its two-hundred day moving average is $91.39. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. On average, sell-side analysts expect that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders 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 annualized dividend and a dividend yield of 3.09%. State Street’s dividend payout ratio 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.