Balyasny Asset Management L.P. Cuts Holdings in State Street Co. (NYSE:STT)

Balyasny Asset Management L.P. cut its position in shares of State Street Co. (NYSE:STT - Free Report) by 35.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 741,010 shares of the asset manager's stock after selling 409,571 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.25% of State Street worth $72,730,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STT. Albion Financial Group UT purchased a new position in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd raised its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in State Street in the fourth quarter worth $42,000. Coppell Advisory Solutions LLC boosted its position in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after buying an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Stock Performance

NYSE STT traded up $0.71 during trading hours on Wednesday, hitting $91.46. The company's stock had a trading volume of 1,903,067 shares, compared to its average volume of 2,153,451. 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 company's 50 day simple moving average is $86.37 and its two-hundred day simple moving average is $93.56. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a market cap of $26.39 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period last year, the firm posted $1.69 earnings per share. As a group, sell-side analysts expect that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.32%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STT shares. Morgan Stanley lowered their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Bank of America increased their target price on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $102.15.

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.