J. Safra Sarasin Holding AG Sells 3,335 Shares of State Street Co. (NYSE:STT)

J. Safra Sarasin Holding AG cut its holdings in shares of State Street Co. (NYSE:STT) by 16.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,741 shares of the asset manager’s stock after selling 3,335 shares during the period. J. Safra Sarasin Holding AG’s holdings in State Street were worth $1,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of State Street in the third quarter worth approximately $1,125,000. Synovus Financial Corp raised its position in State Street by 10.3% in the 3rd quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager’s stock valued at $1,179,000 after buying an additional 1,247 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after acquiring an additional 103 shares in the last quarter. Franklin Resources Inc. boosted its holdings in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after acquiring an additional 408,792 shares during the last quarter. Finally, Inspire Trust Co. N.A. grew its stake in shares of State Street by 5.9% in the 3rd quarter. Inspire Trust Co. N.A. now owns 35,776 shares of the asset manager’s stock worth $3,165,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

State Street Price Performance

STT opened at $83.74 on Wednesday. The firm has a 50-day moving average price of $88.58 and a 200-day moving average price of $93.70. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the business earned $1.69 EPS. Equities analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.63%. State Street’s dividend payout ratio (DPR) is 34.12%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Barclays cut their target price on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Citigroup decreased their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $102.15.

About State Street

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.