State Street Co. (NYSE:STT) Shares Sold by Comerica Bank

Comerica Bank decreased its stake in shares of State Street Co. (NYSE:STT - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,593 shares of the asset manager's stock after selling 11,035 shares during the quarter. Comerica Bank's holdings in State Street were worth $13,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Invesco Ltd. lifted its stake in shares of State Street by 5.7% in the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager's stock valued at $737,162,000 after purchasing an additional 406,396 shares during the last quarter. Geode Capital Management LLC lifted its position in State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager's stock valued at $704,238,000 after buying an additional 24,617 shares during the last quarter. FMR LLC boosted its stake in State Street by 14.2% during the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after buying an additional 870,849 shares during the period. Amundi raised its stake in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock valued at $547,636,000 after acquiring an additional 561,773 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after acquiring an additional 563,790 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Evercore ISI reduced their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, State Street presently has a consensus rating of "Hold" and an average price target of $102.15.

State Street Stock Performance

Shares of STT traded up $0.17 during midday trading on Tuesday, reaching $90.74. 2,743,956 shares of the stock were exchanged, compared to its average volume of 2,152,376. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $26.19 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.11 and a beta of 1.42. The business's 50-day moving average price is $86.67 and its 200 day moving average price is $93.60.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the business earned $1.69 earnings per share. On average, sell-side analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.35%. State Street's dividend payout ratio is presently 34.12%.

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.