Catalyst Capital Advisors LLC Sells 1,507 Shares of State Street Co. (NYSE:STT)

Catalyst Capital Advisors LLC trimmed its holdings in State Street Co. (NYSE:STT) by 67.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726 shares of the asset manager’s stock after selling 1,507 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in State Street were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in State Street by 0.6% during 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 in the last quarter. FMR LLC increased its stake in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. Metropolis Capital Ltd increased its stake in State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock valued at $379,209,000 after purchasing an additional 161,466 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

STT opened at $100.40 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.12 and a beta of 1.43. The company’s 50 day moving average is $98.58 and its 200 day moving average is $92.40. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

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 analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.04 earnings per share. On average, equities research analysts predict that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.03%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In other State Street 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 transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STT shares. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target 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.