Bridges Investment Management Inc. Has $645,000 Position in State Street Co. (NYSE:STT)

Bridges Investment Management Inc. lowered its position in State Street Co. (NYSE:STTFree Report) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,325 shares of the asset manager’s stock after selling 175 shares during the quarter. Bridges Investment Management Inc.’s holdings in State Street were worth $645,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STT. Raymond James Trust N.A. lifted its stake in State Street by 29.3% in the first quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager’s stock valued at $392,000 after acquiring an additional 1,021 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of State Street by 14.3% during the 1st quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock worth $1,547,000 after buying an additional 2,216 shares during the last quarter. Sei Investments Co. lifted its stake in shares of State Street by 3.8% during the 1st quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock worth $24,436,000 after buying an additional 10,187 shares during the last quarter. Prudential PLC acquired a new stake in shares of State Street during the 1st quarter worth about $812,000. Finally, Cetera Investment Advisers lifted its stake in shares of State Street by 16.5% during the 1st quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager’s stock worth $2,019,000 after buying an additional 3,276 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In related news, 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 sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

State Street Price Performance

STT stock traded up $0.14 during mid-day trading on Wednesday, hitting $77.14. The stock had a trading volume of 260,844 shares, compared to its average volume of 2,215,049. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.86. State Street Co. has a 52 week low of $62.78 and a 52 week high of $81.37. The firm has a market capitalization of $23.29 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.35 and a beta of 1.52. The firm has a fifty day simple moving average of $73.61 and a 200 day simple moving average of $71.83.

State Street (NYSE:STTGet Free Report) last released its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a net margin of 10.59% and a return on equity of 11.86%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm earned $2.07 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, research analysts forecast that State Street Co. will post 7.83 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Monday, April 1st will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.58%. The ex-dividend date is Thursday, March 28th. State Street’s dividend payout ratio is currently 50.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STT. Bank of America restated an “underperform” rating and set a $81.00 target price on shares of State Street in a research note on Thursday, January 4th. UBS Group raised their target price on shares of State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods dropped their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 price objective on shares of State Street in a research note on Wednesday, December 6th. Finally, The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.83.

Check Out Our Latest Stock Analysis on State Street

State Street Profile

(Free Report)

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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