Macquarie Group Ltd. lessened its stake in State Street Corp (NYSE:STT) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 334,892 shares of the asset manager’s stock after selling 3,304 shares during the period. Macquarie Group Ltd. owned 0.09% of State Street worth $32,237,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of STT. Zions Bancorporation raised its position in State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock worth $100,000 after purchasing an additional 795 shares during the last quarter. NuWave Investment Management LLC bought a new position in State Street in the 4th quarter worth approximately $107,000. Legacy Advisors LLC raised its position in State Street by 835.8% in the 4th quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock worth $112,000 after purchasing an additional 1,028 shares during the last quarter. Delpha Capital Management LLC bought a new position in State Street in the 4th quarter worth approximately $113,000. Finally, Focused Wealth Management Inc bought a new position in State Street in the 4th quarter worth approximately $117,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.
In other news, CEO Joseph L. Hooley sold 33,568 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew P. Kuritzkes sold 10,248 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.17, for a total transaction of $1,108,526.16. The disclosure for this sale can be found here. Insiders sold a total of 49,531 shares of company stock valued at $5,146,169 in the last three months. 0.71% of the stock is owned by company insiders.
Several research analysts recently weighed in on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Tuesday, December 12th. Barclays boosted their price objective on shares of State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research cut shares of State Street from a “buy” rating to a “hold” rating and set a $109.00 price objective for the company. in a research report on Friday, January 5th. Vining Sparks restated a “buy” rating and issued a $120.00 price objective on shares of State Street in a research report on Monday, January 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $107.00 target price on shares of State Street in a report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $110.21.
Shares of State Street stock opened at $106.81 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.61. State Street Corp has a fifty-two week low of $75.27 and a fifty-two week high of $114.27. The company has a market cap of $39,026.39, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29.
State Street (NYSE:STT) last released its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). State Street had a return on equity of 13.41% and a net margin of 17.94%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted $1.48 EPS. State Street’s revenue was up 8.5% on a year-over-year basis. equities analysts forecast that State Street Corp will post 7.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 29th. State Street’s dividend payout ratio (DPR) is 32.12%.
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State Street Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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