State Street Co. (NYSE:STT) Shares Sold by Fosun International Ltd

Fosun International Ltd decreased its position in shares of State Street Co. (NYSE:STT) by 33.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,050 shares of the asset manager’s stock after selling 2,510 shares during the period. Fosun International Ltd’s holdings in State Street were worth $391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its holdings in State Street by 3.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 115,057 shares of the asset manager’s stock worth $7,704,000 after acquiring an additional 3,569 shares during the period. Raymond James & Associates lifted its stake in shares of State Street by 23.2% during the third quarter. Raymond James & Associates now owns 74,589 shares of the asset manager’s stock valued at $4,994,000 after acquiring an additional 14,067 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of State Street by 114.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 173,619 shares of the asset manager’s stock worth $11,626,000 after buying an additional 92,564 shares during the period. Brown Advisory Inc. grew its stake in shares of State Street by 2.3% during the third quarter. Brown Advisory Inc. now owns 18,526 shares of the asset manager’s stock worth $1,241,000 after purchasing an additional 422 shares during the period. Finally, Forsta AP Fonden grew its holdings in State Street by 0.6% during the third quarter. Forsta AP Fonden now owns 79,400 shares of the asset manager’s stock valued at $5,317,000 after purchasing an additional 500 shares during the period. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of a number of research reports. Keefe, Bruyette & Woods cut their target price 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. Royal Bank of Canada boosted their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Morgan Stanley upped their price objective on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group raised 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, Evercore ISI upped their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.04.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction 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 sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,864 shares of company stock worth $1,390,597. Insiders own 0.31% of the company’s stock.

State Street Trading Up 0.7 %

Shares of NYSE STT traded up $0.53 during midday trading on Thursday, reaching $75.85. 155,957 shares of the stock were exchanged, compared to its average volume of 2,342,334. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $22.85 billion, a P/E ratio of 14.10, a PEG ratio of 1.32 and a beta of 1.52. State Street Co. has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a 50 day simple moving average of $74.34 and a 200 day simple moving average of $73.24.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. As a group, equities analysts expect that State Street Co. will post 7.96 earnings per share for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.64%. State Street’s payout ratio is currently 51.69%.

State Street Company 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.