Natixis boosted its holdings in State Street Corp (NYSE:STT) by 4.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 317,266 shares of the asset manager’s stock after purchasing an additional 14,525 shares during the period. Natixis owned about 0.09% of State Street worth $31,641,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of STT. Motco lifted its holdings in State Street by 246.8% during the 1st quarter. Motco now owns 1,068 shares of the asset manager’s stock worth $107,000 after buying an additional 760 shares during the last quarter. NuWave Investment Management LLC bought a new position in State Street during the 4th quarter worth approximately $107,000. Delpha Capital Management LLC bought a new position in State Street during the 4th quarter worth approximately $113,000. Focused Wealth Management Inc bought a new position in State Street during the 4th quarter worth approximately $117,000. Finally, Financial Gravity Companies Inc. bought a new position in State Street during the 4th quarter worth approximately $137,000. 87.98% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Karen C. Keenan sold 851 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $100.78, for a total value of $85,763.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeff D. Conway sold 288 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $100.78, for a total value of $29,024.64. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.
Shares of State Street opened at $98.36 on Thursday, according to Marketbeat.com. The company has a market capitalization of $36.63 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.29 and a beta of 1.27. State Street Corp has a 12-month low of $86.80 and a 12-month high of $114.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.56 and a current ratio of 0.56.
State Street (NYSE:STT) last posted its earnings results on Friday, April 20th. The asset manager reported $1.62 EPS for the quarter, beating the consensus estimate of $1.58 by $0.04. State Street had a return on equity of 14.23% and a net margin of 19.07%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the firm earned $1.21 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. research analysts forecast that State Street Corp will post 7.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Monday, July 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, June 29th. State Street’s dividend payout ratio is currently 28.19%.
A number of research firms have commented on STT. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Deutsche Bank raised State Street from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Monday, April 23rd. Sandler O’Neill reaffirmed a “hold” rating and set a $104.00 target price on shares of State Street in a report on Monday, April 9th. Keefe, Bruyette & Woods set a $115.00 target price on State Street and gave the stock a “buy” rating in a report on Wednesday, April 4th. Finally, ValuEngine downgraded State Street from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. State Street has an average rating of “Buy” and a consensus price target of $111.29.
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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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