State Street Co. (NYSE:STT) Shares Sold by Dodge & Cox

Dodge & Cox decreased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,425,244 shares of the asset manager's stock after selling 2,030,568 shares during the period. Dodge & Cox owned about 2.53% of State Street worth $728,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd raised its stake 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 valued at $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in State Street in the 4th quarter valued at $42,000. Loomis Sayles & Co. L P boosted its stake in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after purchasing an additional 311 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of State Street during the fourth quarter worth $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Trading Up 2.2 %

STT traded up $1.76 on Friday, hitting $81.39. The company had a trading volume of 5,521,939 shares, compared to its average volume of 2,182,146. The company's fifty day moving average price is $89.24 and its 200 day moving average price is $93.77. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $23.49 billion, a P/E ratio of 9.88, a PEG ratio of 1.11 and a beta of 1.42.

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

State Street Announces Dividend

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 $0.76 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.74%. State Street's dividend payout ratio is presently 34.12%.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent research reports. Evercore ISI lowered their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Bank of America lifted their price objective on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Finally, StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $103.54.

Insider Buying and Selling

In other news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on 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 approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

About State Street

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.