Brandes Investment Partners LP Has $103.42 Million Holdings in State Street Co. (NYSE:STT)

Brandes Investment Partners LP lessened its position in shares of State Street Co. (NYSE:STT) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,053,714 shares of the asset manager’s stock after selling 45,818 shares during the quarter. Brandes Investment Partners LP owned approximately 0.36% of State Street worth $103,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Adero Partners LLC raised its stake in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 100 shares during the period. Peapack Gladstone Financial Corp raised its stake in State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after acquiring an additional 103 shares during the period. Jacobi Capital Management LLC raised its stake in State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after acquiring an additional 121 shares during the period. Moors & Cabot Inc. raised its stake in State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after acquiring an additional 131 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in State Street by 1.4% in the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

State Street Price Performance

Shares of State Street stock opened at $86.90 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $25.07 billion, a PE ratio of 10.55, a P/E/G ratio of 1.11 and a beta of 1.44. The business has a 50 day moving average of $96.69 and a 200 day moving average of $94.04. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 earnings per share. As a group, equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.50%. State Street’s payout ratio is 36.89%.

Analysts Set New Price Targets

A number of research analysts have weighed in on STT shares. Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company lifted 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.20.

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.