Versant Capital Management Inc Buys 197 Shares of State Street Co. (NYSE:STT)

Versant Capital Management Inc boosted its stake in shares of State Street Co. (NYSE:STT) by 37.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730 shares of the asset manager’s stock after purchasing an additional 197 shares during the quarter. Versant Capital Management Inc’s holdings in State Street were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of STT. TD Asset Management Inc raised its stake in State Street by 2.3% in the second quarter. TD Asset Management Inc now owns 123,488 shares of the asset manager’s stock valued at $9,138,000 after buying an additional 2,731 shares during the last quarter. Candriam S.C.A. raised its position in shares of State Street by 21.9% in the second quarter. Candriam S.C.A. now owns 48,686 shares of the asset manager’s stock worth $3,603,000 after acquiring an additional 8,761 shares during the period. Savant Capital LLC increased its stake in shares of State Street by 125.0% in the 2nd quarter. Savant Capital LLC now owns 27,527 shares of the asset manager’s stock valued at $2,037,000 after purchasing an additional 15,293 shares in the last quarter. Acadian Asset Management LLC boosted its position in State Street by 185.3% during the second quarter. Acadian Asset Management LLC now owns 385,105 shares of the asset manager’s stock worth $28,491,000 after purchasing an additional 250,107 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in State Street by 292.7% in the 2nd quarter. Caprock Group LLC now owns 17,956 shares of the asset manager’s stock valued at $1,329,000 after buying an additional 13,383 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Down 0.3 %

Shares of NYSE:STT opened at $97.67 on Monday. The company has a market capitalization of $28.63 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.24 and a beta of 1.43. State Street Co. has a 52-week low of $70.20 and a 52-week high of $101.91. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $96.99 and its 200-day simple moving average is $88.04.

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

State Street Dividend Announcement

The business 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 is Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.11%. State Street’s payout ratio is currently 48.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped 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. Deutsche Bank Aktiengesellschaft increased their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, Morgan Stanley lowered their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $98.57.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction 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 transaction, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by company insiders.

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.