Voya Investment Management LLC Has $12.66 Million Position in State Street Co. (NYSE:STT)

Voya Investment Management LLC cut its holdings in shares of State Street Co. (NYSE:STT) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 128,938 shares of the asset manager’s stock after selling 11,927 shares during the quarter. Voya Investment Management LLC’s holdings in State Street were worth $12,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in STT. Albion Financial Group UT acquired a new position in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd increased its holdings in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC increased its holdings in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after acquiring an additional 311 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

STT opened at $87.58 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market cap of $25.27 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The business’s fifty day moving average is $87.57 and its 200-day moving average is $93.69.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the company earned $1.69 EPS. Sell-side analysts expect 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 was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.47%. State Street’s dividend payout ratio is currently 34.12%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Evercore ISI decreased their price objective on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Citigroup decreased their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Bank of America upped their price objective on State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $102.15.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.