State Street Co. (NYSE:STT) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its stake in State Street Co. (NYSE:STT) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,463,873 shares of the asset manager’s stock after selling 13,754 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.48% of State Street worth $113,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of STT. Syon Capital LLC increased its stake in State Street by 3.7% during the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock worth $367,000 after buying an additional 168 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in State Street by 4.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,132 shares of the asset manager’s stock worth $320,000 after purchasing an additional 170 shares during the period. Cardinal Capital Management increased its position in shares of State Street by 0.4% during the fourth quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager’s stock valued at $3,822,000 after acquiring an additional 174 shares during the last quarter. Lido Advisors LLC boosted its position in shares of State Street by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after purchasing an additional 178 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT traded down $0.69 on Friday, reaching $70.91. The company’s stock had a trading volume of 1,395,754 shares, compared to its average volume of 2,038,222. The stock’s 50-day moving average is $74.67 and its two-hundred day moving average is $74.72. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The stock has a market capitalization of $21.36 billion, a P/E ratio of 13.28, a PEG ratio of 1.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, sell-side analysts forecast that State Street Co. will post 7.94 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s payout ratio is 51.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STT shares. Evercore ISI lifted their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. UBS Group upped their price objective on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of State Street in a research note on Wednesday. Finally, Argus increased their price target on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $84.04.

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.