Tealwood Asset Management Inc. Trims Stake in State Street Co. (NYSE:STT)

Tealwood Asset Management Inc. decreased its stake in shares of State Street Co. (NYSE:STT) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,352 shares of the asset manager’s stock after selling 163 shares during the period. State Street accounts for 1.1% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 24th biggest position. Tealwood Asset Management Inc.’s holdings in State Street were worth $2,685,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in State Street in the 4th quarter valued at about $166,000. Friedenthal Financial acquired a new position in shares of State Street in the 4th quarter valued at $49,000. Bar Harbor Wealth Management acquired a new position in State Street in the fourth quarter valued at $205,000. Wedmont Private Capital grew its holdings in shares of State Street by 3.7% during the 4th quarter. Wedmont Private Capital now owns 6,152 shares of the asset manager’s stock worth $578,000 after purchasing an additional 218 shares during the period. Finally, Brookstone Capital Management grew its stake in State Street by 11.0% during the fourth quarter. Brookstone Capital Management now owns 7,196 shares of the asset manager’s stock worth $706,000 after buying an additional 712 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on STT. The Goldman Sachs Group increased their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Finally, Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $100.33.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

STT opened at $94.46 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $97.46 and its 200-day moving average is $89.05. The stock has a market cap of $27.69 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. State Street Co. has a twelve month low of $70.20 and a twelve month high of $101.91.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. On average, analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

State Street 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.