Bridge Creek Capital Management LLC Sells 1,120 Shares of State Street Co. (NYSE:STT)

Bridge Creek Capital Management LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,489 shares of the asset manager’s stock after selling 1,120 shares during the quarter. State Street makes up 1.4% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 28th biggest position. Bridge Creek Capital Management LLC’s holdings in State Street were worth $4,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street in the 2nd quarter worth about $27,000. Coastline Trust Co bought a new position in shares of State Street in the 3rd quarter worth approximately $44,000. Capital Performance Advisors LLP purchased a new position in shares of State Street in the 3rd quarter valued at approximately $54,000. Versant Capital Management Inc boosted its position in shares of State Street by 37.0% during the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 197 shares in the last quarter. Finally, Tobam purchased a new stake in State Street in the third quarter worth $77,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

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

State Street Stock Performance

Shares of NYSE STT traded down $0.05 during midday trading on Monday, hitting $93.86. 1,212,955 shares of the company’s stock traded hands, compared to its average volume of 1,602,687. State Street Co. has a 1 year low of $70.20 and a 1 year high of $101.91. The stock has a market capitalization of $27.52 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day moving average of $97.41 and a 200 day moving average of $88.90.

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

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

Analysts Set New Price Targets

A number of analysts have recently commented on STT shares. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley decreased their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus target price of $100.33.

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.