UniSuper Management Pty Ltd Sells 4,355 Shares of State Street Co. (NYSE:STT)

UniSuper Management Pty Ltd cut its stake in State Street Co. (NYSE:STT) by 12.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,488 shares of the asset manager’s stock after selling 4,355 shares during the quarter. UniSuper Management Pty Ltd’s holdings in State Street were worth $2,894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Adero Partners LLC raised its stake in State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after buying an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares during the period. Jacobi Capital Management LLC grew its stake in State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after purchasing an additional 121 shares during the period. Moors & Cabot Inc. raised its holdings in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock worth $1,799,000 after purchasing an additional 131 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after buying an additional 138 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of NYSE STT opened at $88.95 on Friday. The firm’s 50-day moving average price is $95.35 and its 200-day moving average price is $94.48. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a market cap of $25.66 billion, a PE ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last issued its earnings results 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. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. As a group, analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is 36.89%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Citigroup dropped their price target on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. One 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.53.

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.