Handelsbanken Fonder AB Sells 13,668 Shares of State Street Co. (NYSE:STT)

Handelsbanken Fonder AB trimmed its stake in shares of State Street Co. (NYSE:STT - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,109 shares of the asset manager's stock after selling 13,668 shares during the quarter. Handelsbanken Fonder AB's holdings in State Street were worth $8,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street in the 4th quarter worth about $42,000. Coppell Advisory Solutions LLC raised its stake in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after buying an additional 412 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in State Street in the fourth quarter worth about $49,000. Finally, Whipplewood Advisors LLC bought a new stake in State Street during the 4th quarter valued at approximately $61,000. Institutional investors own 87.44% of the company's stock.

State Street Stock Performance

STT stock traded down $1.55 on Friday, reaching $96.05. 1,483,732 shares of the company were exchanged, compared to its average volume of 2,103,464. The firm has a market capitalization of $27.39 billion, a PE ratio of 11.66, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock's fifty day moving average price is $90.79 and its 200 day moving average price is $94.08. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.

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

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.17%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Analysts Set New Price Targets

Several research firms have recently weighed in on STT. Evercore ISI decreased their price target on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company decreased their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Morgan Stanley set a $110.00 target price on shares of State Street and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Wall Street Zen lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $102.54.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now owns 7,354 shares of the company's stock, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company's stock.

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.