First National Trust Co Trims Stock Holdings in State Street Co. (NYSE:STT)

First National Trust Co lowered its position in shares of State Street Co. (NYSE:STT) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,273 shares of the asset manager’s stock after selling 375 shares during the quarter. First National Trust Co’s holdings in State Street were worth $873,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AustralianSuper Pty Ltd grew its stake in shares of State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after buying an additional 1,015,022 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of State Street during the fourth quarter valued at $45,687,000. Private Management Group Inc. purchased a new position in shares of State Street in the 3rd quarter worth about $36,022,000. Metropolis Capital Ltd boosted its stake in State Street by 18.4% in the 4th quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after purchasing an additional 537,431 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in State Street by 122.8% in the 3rd quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager’s stock worth $59,242,000 after purchasing an additional 487,671 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT stock traded up $1.19 on Friday, reaching $74.39. The company’s stock had a trading volume of 1,623,097 shares, compared to its average volume of 2,916,756. The stock’s fifty day simple moving average is $74.26 and its 200-day simple moving average is $73.04. State Street Co. has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s payout ratio is 51.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on STT shares. Evercore ISI increased their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Argus boosted their price objective on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Morgan Stanley raised their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Royal Bank of Canada boosted their target price on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods dropped their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus target price of $84.04.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,294,801. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by company 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.