Kings Path Partners LLC Decreases Stock Holdings in State Street Co. (NYSE:STT)

Kings Path Partners LLC lowered its holdings in State Street Co. (NYSE:STT) by 41.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,910 shares of the asset manager’s stock after selling 5,510 shares during the period. Kings Path Partners LLC’s holdings in State Street were worth $776,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STT. Neville Rodie & Shaw Inc. raised its position in State Street by 337.3% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 18,150 shares of the asset manager’s stock valued at $1,782,000 after purchasing an additional 14,000 shares during the period. Nordea Investment Management AB raised its holdings in shares of State Street by 21.2% during the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock valued at $214,998,000 after buying an additional 381,260 shares during the period. GAMMA Investing LLC raised its holdings in shares of State Street by 28.4% during the 4th quarter. GAMMA Investing LLC now owns 3,202 shares of the asset manager’s stock valued at $314,000 after buying an additional 709 shares during the period. Versant Capital Management Inc lifted its position in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after acquiring an additional 197 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in State Street by 1.2% in the third quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock valued at $30,633,000 after acquiring an additional 4,052 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Performance

STT traded up $1.58 during trading on Monday, reaching $99.25. 573,597 shares of the company were exchanged, compared to its average volume of 1,183,618. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The firm has a 50 day moving average of $96.99 and a 200 day moving average of $88.04. The stock has a market cap of $29.10 billion, a P/E ratio of 15.68, a PEG ratio of 1.24 and a beta of 1.43.

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

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.06%. State Street’s dividend payout ratio (DPR) is presently 48.03%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STT. Deutsche Bank Aktiengesellschaft boosted their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $99.93.

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.