Boston Trust Walden Corp Trims Holdings in State Street Co. (NYSE:STT)

Boston Trust Walden Corp lowered its position in State Street Co. (NYSE:STT) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,407 shares of the asset manager’s stock after selling 4,354 shares during the period. Boston Trust Walden Corp’s holdings in State Street were worth $923,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT purchased a new stake in shares of State Street in the 4th quarter valued at $25,000. Coastline Trust Co acquired a new position in State Street during the third quarter valued at $44,000. Friedenthal Financial purchased a new stake in State Street in the fourth quarter valued at $49,000. R Squared Ltd acquired a new stake in State Street during the 4th quarter worth about $58,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of State Street during the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STT. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Friday, December 20th. Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Barclays lifted their target price on shares of 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 reissued a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and an average target price of $100.73.

State Street Trading Up 0.3 %

Shares of STT stock opened at $98.42 on Wednesday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm has a market capitalization of $28.85 billion, a P/E ratio of 11.94, a PEG ratio of 1.14 and a beta of 1.43. The stock’s fifty day moving average is $98.49 and its two-hundred day moving average is $91.39. 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 posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 earnings per share. Research analysts expect that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

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

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.