State Street Co. (NYSE:STT) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. reduced its position in State Street Co. (NYSE:STT) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,814 shares of the asset manager’s stock after selling 1,220 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in State Street were worth $1,225,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in State Street by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock valued at $2,997,806,000 after acquiring an additional 146,048 shares in the last quarter. Invesco Ltd. grew its position in shares of State Street by 0.3% during the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after buying an additional 29,190 shares in the last quarter. Morgan Stanley grew its position in shares of State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after buying an additional 1,430,237 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of State Street by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock worth $373,551,000 after buying an additional 469,309 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of State Street by 4.1% during the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after buying an additional 180,093 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,864 shares of company stock valued at $1,390,597. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Bank of America reissued an “underperform” rating and set a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th. JPMorgan Chase & Co. boosted their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. UBS Group boosted their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.04.

State Street Price Performance

Shares of NYSE STT opened at $73.02 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The stock has a 50 day moving average of $73.98 and a two-hundred day moving average of $72.36. The stock has a market cap of $22.05 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.40 and a beta of 1.52.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. On average, research analysts forecast that State Street Co. will post 7.87 earnings per share for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Thursday, March 28th. State Street’s payout ratio is currently 51.69%.

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.