J. Safra Sarasin Holding AG Sells 3,335 Shares of State Street Co. (NYSE:STT)

J. Safra Sarasin Holding AG cut its position in shares of State Street Co. (NYSE:STT - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,741 shares of the asset manager's stock after selling 3,335 shares during the period. J. Safra Sarasin Holding AG's holdings in State Street were worth $1,643,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of STT. Invesco Ltd. grew 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 period. Geode Capital Management LLC grew 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 acquiring an additional 24,617 shares during the period. FMR LLC raised 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 acquiring an additional 870,849 shares in the last quarter. Amundi lifted its holdings in shares of State Street by 11.1% during the fourth 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, Franklin Resources Inc. boosted its stake in shares of State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,422,147 shares of the asset manager's stock valued at $335,884,000 after purchasing an additional 55,598 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STT has been the subject of several analyst reports. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Barclays reduced their target price on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, Keefe, Bruyette & Woods lowered their target price 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. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.15.

State Street Trading Up 0.0 %

Shares of State Street stock traded up $0.01 on Monday, hitting $87.39. 643,970 shares of the company's stock traded hands, compared to its average volume of 2,147,108. The firm's 50-day moving average price is $87.81 and its two-hundred day moving average price is $93.70. 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 stock has a market capitalization of $25.22 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $1.69 earnings per share. On average, research analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio is currently 34.12%.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

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.