State Street Co. (NYSE:STT) Stock Holdings Reduced by Mathes Company Inc.

Mathes Company Inc. cut its stake in State Street Co. (NYSE:STT - Free Report) by 34.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,175 shares of the asset manager's stock after selling 11,375 shares during the quarter. Mathes Company Inc.'s holdings in State Street were worth $1,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CVA Family Office LLC acquired a new stake in shares of State Street during the 4th quarter worth about $27,000. Venturi Wealth Management LLC increased its position in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager's stock worth $30,000 after purchasing an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of State Street during the 4th quarter worth about $35,000. State of Wyoming increased its position in shares of State Street by 51.3% during the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager's stock worth $45,000 after purchasing an additional 210 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of State Street by 69.2% during the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager's stock worth $50,000 after purchasing an additional 234 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on State Street from $79.50 to $80.50 in a research report on Friday. Evercore ISI lifted their target price on State Street from $85.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. UBS Group lifted their target price on State Street from $80.00 to $82.00 and gave the company a "neutral" rating in a research report on Friday. The Goldman Sachs Group raised State Street from a "neutral" rating to a "buy" rating and lifted their target price for the company from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Finally, Barclays lifted their price objective on State Street from $87.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, State Street presently has a consensus rating of "Hold" and an average target price of $84.04.

State Street Stock Down 2.5 %

STT stock traded down $1.91 during trading on Tuesday, hitting $73.02. 3,018,348 shares of the company's stock were exchanged, compared to its average volume of 2,291,066. The business has a 50-day moving average price of $73.98 and a two-hundred day moving average price of $72.36. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.42 and a beta of 1.52. State Street Co. has a 52-week low of $62.78 and a 52-week 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.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 earnings per share. As a group, equities research analysts expect that State Street Co. will post 7.85 EPS for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Thursday, March 28th. State Street's dividend payout ratio (DPR) is 51.69%.

Insiders Place Their Bets

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