Victory Capital Management Inc. Trims Holdings in State Street Co. (NYSE:STT)

Victory Capital Management Inc. lessened its position in State Street Co. (NYSE:STT - Free Report) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 359,745 shares of the asset manager's stock after selling 96,523 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of State Street worth $27,866,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. CVA Family Office LLC acquired a new stake in shares of State Street during the fourth quarter worth about $27,000. Venturi Wealth Management LLC lifted its stake in State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager's stock valued at $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of State Street during the fourth quarter worth $35,000. Bruce G. Allen Investments LLC bought a new stake in State Street in the 4th quarter valued at $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in State Street in the 3rd quarter worth $72,000. 87.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on STT shares. Royal Bank of Canada increased their price objective on State Street from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $89.00 to $86.00 and set a "market perform" rating on the stock in a research report on Monday, January 22nd. JPMorgan Chase & Co. raised their target price on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Evercore ISI boosted their price target on shares of State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Finally, Argus raised their price objective on State Street from $84.00 to $86.00 and gave the company a "buy" rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, State Street currently has an average rating of "Hold" and an average target price of $84.04.

Insider Buying and Selling

In other news, EVP Anthony Bisegna sold 2,606 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

NYSE:STT traded down $0.03 during mid-day trading on Wednesday, hitting $75.32. 1,945,768 shares of the stock were exchanged, compared to its average volume of 2,368,110. The firm's 50-day simple moving average is $74.34 and its 200 day simple moving average is $73.24. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.06 billion. As a group, equities analysts anticipate that State Street Co. will post 7.96 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Thursday, March 28th. State Street's dividend payout ratio (DPR) is currently 51.69%.

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.