First National Trust Co Reduces Stock Position in State Street Co. (NYSE:STT)

First National Trust Co trimmed its holdings in shares of State Street Co. (NYSE:STT) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,273 shares of the asset manager’s stock after selling 375 shares during the period. First National Trust Co’s holdings in State Street were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise boosted its position in shares of State Street by 54.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 3,841 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of State Street during the fourth quarter worth approximately $45,687,000. Crestwood Advisors Group LLC increased its holdings in shares of State Street by 11.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock valued at $5,562,000 after acquiring an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in State Street by 3.7% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock valued at $37,522,000 after purchasing an additional 17,270 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in State Street by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock worth $20,941,000 after purchasing an additional 12,594 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group upped their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Royal Bank of Canada increased 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. Morgan Stanley boosted their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Argus increased their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Evercore ISI boosted their price objective on shares of State Street from $85.00 to $88.00 and gave the company 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.04.

State Street Price Performance

State Street stock traded up $1.19 during mid-day trading on Friday, reaching $74.39. The company had a trading volume of 1,623,097 shares, compared to its average volume of 2,916,756. The stock’s 50-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 debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market capitalization of $22.46 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.32 and a beta of 1.52.

State Street Dividend Announcement

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