Stratos Wealth Partners LTD. lowered its position in State Street Corp (NYSE:STT) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,777 shares of the asset manager’s stock after selling 871 shares during the period. Stratos Wealth Partners LTD.’s holdings in State Street were worth $875,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. NuWave Investment Management LLC acquired a new stake in State Street in the 4th quarter worth approximately $107,000. Motco lifted its stake in State Street by 246.8% during the 1st quarter. Motco now owns 1,068 shares of the asset manager’s stock valued at $107,000 after acquiring an additional 760 shares during the period. Delpha Capital Management LLC acquired a new stake in State Street during the 4th quarter valued at approximately $113,000. Focused Wealth Management Inc acquired a new stake in State Street during the 4th quarter valued at approximately $117,000. Finally, Financial Gravity Companies Inc. acquired a new stake in State Street during the 4th quarter valued at approximately $137,000. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
In other State Street news, EVP Karen C. Keenan sold 851 shares of the firm’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff D. Conway sold 288 shares of the firm’s stock in a transaction 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.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Deutsche Bank raised shares of State Street from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Monday, April 23rd. Sandler O’Neill reissued a “hold” rating and issued a $104.00 price target on shares of State Street in a report on Monday, April 9th. Keefe, Bruyette & Woods set a $115.00 target price on shares of State Street and gave the stock a “buy” rating in a report on Wednesday, April 4th. Finally, ValuEngine lowered shares of 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 given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $111.29.
Shares of State Street stock opened at $98.36 on Thursday. The company has a market capitalization of $36.63 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.29 and a beta of 1.27. State Street Corp has a 52 week low of $86.80 and a 52 week 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 announced its quarterly earnings results on Friday, April 20th. The asset manager reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.04. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3 billion. State Street had a net margin of 19.07% and a return on equity of 14.23%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. analysts anticipate that State Street Corp will post 7.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Monday, July 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, June 29th. State Street’s dividend payout ratio is presently 28.19%.
State Street Company 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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