Korea Investment CORP Has $21.55 Million Stock Holdings in State Street Co. (NYSE:STT)

Korea Investment CORP reduced its position in State Street Co. (NYSE:STT) by 3.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 219,552 shares of the asset manager’s stock after selling 7,119 shares during the period. Korea Investment CORP’s holdings in State Street were worth $21,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in STT. Albion Financial Group UT acquired a new stake in State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd boosted its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street during the 4th quarter worth approximately $42,000. Friedenthal Financial bought a new stake in shares of State Street during the fourth quarter worth approximately $49,000. Finally, Hager Investment Management Services LLC acquired a new position in State Street in the fourth quarter valued at approximately $56,000. Institutional investors own 87.44% of the company’s stock.

State Street Trading Down 3.1 %

STT opened at $88.95 on Friday. The stock has a market capitalization of $25.66 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The firm’s fifty day simple moving average is $95.35 and its 200 day simple moving average is $94.48.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.42%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Transactions at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

STT has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Citigroup dropped their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company decreased their target price on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $101.53.

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.