State Street Co. (NYSE:STT) Shares Sold by TFC Financial Management Inc.

TFC Financial Management Inc. trimmed its stake in State Street Co. (NYSE:STT) by 25.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,571 shares of the asset manager’s stock after selling 546 shares during the quarter. TFC Financial Management Inc.’s holdings in State Street were worth $154,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Albion Financial Group UT acquired a new position in shares of State Street in the 4th quarter worth $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares during the period. Coastline Trust Co acquired a new stake in shares of State Street in the third quarter worth $44,000. Friedenthal Financial acquired a new stake in shares of State Street in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of State Street in the third quarter worth $54,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $98.23 on Thursday. The firm has a fifty day moving average of $98.55 and a two-hundred day moving average of $92.01. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.12 and a beta of 1.43. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. 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 issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company posted $2.04 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that State Street Co. will post 9.6 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s payout ratio is presently 36.89%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. StockNews.com raised 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 note on Monday, January 27th. Finally, Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.73.

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.