Central Pacific Bank Trust Division Sells 950 Shares of State Street Co. (NYSE:STT)

Central Pacific Bank Trust Division lessened its holdings in shares of State Street Co. (NYSE:STT) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,950 shares of the asset manager’s stock after selling 950 shares during the quarter. Central Pacific Bank Trust Division’s holdings in State Street were worth $2,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street in the 2nd quarter worth approximately $27,000. Coastline Trust Co purchased a new position in State Street in the 3rd quarter worth approximately $44,000. Capital Performance Advisors LLP purchased a new stake in shares of State Street during the third quarter valued at $54,000. Versant Capital Management Inc raised its position in State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after buying an additional 197 shares during the last quarter. Finally, Tobam purchased a new stake in shares of State Street during the 3rd quarter valued at about $77,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on STT shares. The Goldman Sachs Group raised their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted 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 State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $98.57.

Insider Activity

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

State Street Price Performance

Shares of State Street stock traded down $0.94 on Friday, hitting $97.01. 687,808 shares of the company traded hands, compared to its average volume of 1,087,245. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The business has a 50-day simple moving average of $96.84 and a 200 day simple moving average of $87.64. 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 stock has a market capitalization of $28.44 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44.

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

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. State Street’s dividend payout ratio (DPR) is 48.03%.

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.