Cambridge Trust Co. Decreases Stake in State Street Co. (NYSE:STT)

Cambridge Trust Co. decreased its holdings in shares of State Street Co. (NYSE:STT – Get Rating) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,865 shares of the asset manager’s stock after selling 217 shares during the quarter. Cambridge Trust Co.’s holdings in State Street were worth $145,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Ronald Blue Trust Inc. acquired a new position in State Street during the second quarter worth about $25,000. Guardian Wealth Advisors LLC purchased a new stake in shares of State Street in the third quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in shares of State Street in the third quarter valued at approximately $36,000. CNB Bank purchased a new position in State Street during the second quarter worth approximately $37,000. Finally, Asset Dedication LLC purchased a new position in State Street during the third quarter worth approximately $37,000. 88.41% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Down 4.0 %

Shares of NYSE STT opened at $71.77 on Friday. The stock has a fifty day simple moving average of $86.76 and a 200-day simple moving average of $77.54. State Street Co. has a twelve month low of $58.62 and a twelve month high of $94.74. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $24.72 billion, a PE ratio of 9.98, a PEG ratio of 0.98 and a beta of 1.59.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Monday, April 3rd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, March 31st. This represents a $2.52 dividend on an annualized basis and a yield of 3.51%. State Street’s dividend payout ratio (DPR) is presently 35.05%.

Insider Transactions at State Street

In related news, EVP David C. Phelan sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $86.63, for a total transaction of $1,299,450.00. Following the sale, the executive vice president now directly owns 72,491 shares of the company’s stock, valued at approximately $6,279,895.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other State Street news, CAO Ian Appleyard sold 6,725 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $88.42, for a total value of $594,624.50. Following the sale, the chief accounting officer now owns 14,493 shares of the company’s stock, valued at approximately $1,281,471.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David C. Phelan sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $86.63, for a total transaction of $1,299,450.00. Following the sale, the executive vice president now owns 72,491 shares in the company, valued at $6,279,895.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,893 shares of company stock valued at $2,923,987. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Credit Suisse Group raised their target price on State Street from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, January 23rd. Barclays lifted their target price on shares of State Street from $95.00 to $116.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Wells Fargo & Company raised shares of State Street from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $88.00 to $98.00 in a research note on Monday, February 27th. Morgan Stanley reduced their price target on shares of State Street from $96.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $82.00 to $85.00 in a report on Wednesday, January 11th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.68.

State Street Profile

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State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.