Ossiam Sells 26,177 Shares of State Street Co. (NYSE:STT)

Ossiam cut its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 92.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,205 shares of the asset manager's stock after selling 26,177 shares during the quarter. Ossiam's holdings in State Street were worth $216,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Adero Partners LLC raised its position in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock worth $285,000 after purchasing an additional 100 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after buying an additional 103 shares during the period. Jacobi Capital Management LLC lifted its stake in shares of State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after acquiring an additional 121 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in State Street by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after acquiring an additional 131 shares during the period. Finally, Apollon Wealth Management LLC grew its position in State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after acquiring an additional 138 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on STT shares. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Wells Fargo & Company lowered their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. 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 report on Wednesday, January 22nd. Evercore ISI lowered their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods cut their target price on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.15.

Insider Transactions at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 100,023 shares of the company's stock, valued at $10,002,300. This trade 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 Stock Up 0.1 %

Shares of STT traded up $0.07 on Monday, reaching $87.45. The stock had a trading volume of 481,391 shares, compared to its average volume of 2,146,540. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company has a 50-day simple moving average of $87.81 and a 200-day simple moving average of $93.70.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion during 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 last year, the firm posted $1.69 earnings per share. Sell-side analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

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

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.