Yacktman Asset Management LP Lowers Stock Holdings in State Street Co. (NYSE:STT)

Yacktman Asset Management LP lessened its holdings in State Street Co. (NYSE:STT) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,419,857 shares of the asset manager’s stock after selling 61,845 shares during the quarter. State Street makes up 2.5% of Yacktman Asset Management LP’s portfolio, making the stock its 11th largest position. Yacktman Asset Management LP’s holdings in State Street were worth $264,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. raised its stake in State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after purchasing an additional 29,190 shares during the period. Northern Trust Corp grew its holdings in State Street by 4.1% during the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after buying an additional 180,093 shares in the last quarter. Metropolis Capital Ltd raised its position in shares of State Street by 18.4% during the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after buying an additional 537,431 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of State Street by 1.1% in the third quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock worth $147,223,000 after buying an additional 23,506 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of State Street by 0.5% during the fourth quarter. Nordea Investment Management AB now owns 1,689,793 shares of the asset manager’s stock worth $131,128,000 after acquiring an additional 8,142 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 0.4 %

Shares of NYSE STT traded up $0.30 during midday trading on Friday, hitting $73.59. The company’s stock had a trading volume of 1,148,929 shares, compared to its average volume of 2,393,496. The business’s 50 day moving average is $74.14 and its two-hundred day moving average is $72.68. State Street Co. has a 12-month low of $62.78 and a 12-month high of $79.90. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The firm has a market cap of $22.22 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.75%. State Street’s dividend payout ratio (DPR) is 51.69%.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,864 shares of company stock worth $1,390,597. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Bank of America reaffirmed an “underperform” rating and set a $81.00 price objective on shares of State Street in a report on Thursday, January 4th. Argus raised their target price on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Barclays upped their price target on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, State Street has an average rating of “Hold” and an average price target of $84.04.

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.