Bryn Mawr Capital Management LLC Sells 1,737 Shares of State Street Co. (NYSE:STT)

Bryn Mawr Capital Management LLC trimmed its stake in State Street Co. (NYSE:STT) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,660 shares of the asset manager’s stock after selling 1,737 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in State Street were worth $1,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. HBK Sorce Advisory LLC grew its stake in State Street by 0.8% in the third quarter. HBK Sorce Advisory LLC now owns 20,131 shares of the asset manager’s stock valued at $1,348,000 after purchasing an additional 151 shares in the last quarter. Syon Capital LLC boosted its stake in shares of State Street by 3.7% during the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock worth $367,000 after acquiring an additional 168 shares during the period. Cardinal Capital Management boosted its stake in shares of State Street by 0.4% during the 4th quarter. Cardinal Capital Management now owns 48,917 shares of the asset manager’s stock worth $3,822,000 after acquiring an additional 174 shares during the period. Mathes Company Inc. boosted its stake in shares of State Street by 0.5% during the 3rd quarter. Mathes Company Inc. now owns 32,550 shares of the asset manager’s stock worth $2,180,000 after acquiring an additional 175 shares during the period. Finally, Lido Advisors LLC boosted its stake in shares of State Street by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 11,298 shares of the asset manager’s stock worth $756,000 after acquiring an additional 178 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the transaction, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,864 shares of company stock valued at $1,390,597. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $73.39 on Friday. The stock has a market capitalization of $22.16 billion, a PE ratio of 13.74, a P/E/G ratio of 1.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The business has a fifty day moving average price of $74.16 and a two-hundred day moving average price of $72.74. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.76%. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their target price on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. UBS Group lifted their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Evercore ISI boosted their price target on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Bank of America restated an “underperform” rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Finally, JPMorgan Chase & Co. boosted their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.04.

State Street 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.