Schonfeld Strategic Advisors LLC Cuts Position in State Street Co. (NYSE:STT)

Schonfeld Strategic Advisors LLC decreased its holdings in State Street Co. (NYSE:STT - Free Report) by 55.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,020 shares of the asset manager's stock after selling 58,386 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in State Street were worth $4,615,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in STT. Albion Financial Group UT bought a new stake in shares of State Street during the 4th quarter valued at $25,000. Y.D. More Investments Ltd lifted its position in State Street by 116.6% during the fourth 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 in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in State Street during the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its position in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after buying an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Up 0.0 %

Shares of NYSE STT traded up $0.04 during trading hours on Monday, hitting $90.57. 1,416,361 shares of the company traded hands, compared to its average volume of 2,150,018. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company's 50 day moving average price is $86.67 and its 200 day moving average price is $93.60. State Street Co. has a 12 month low of $70.20 and a 12 month 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.

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 for the quarter, beating 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 business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. On average, equities research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insiders Place Their Bets

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Citigroup lowered their price target on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Barclays lowered their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company reduced their target price on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, State Street presently 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.