Teachers Advisors LLC lowered its holdings in State Street Corp (NYSE:STT) by 24.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,120,471 shares of the asset manager’s stock after selling 354,377 shares during the quarter. Teachers Advisors LLC owned approximately 0.30% of State Street worth $109,369,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of STT. Zions Bancorporation raised its holdings in shares of State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 795 shares in the last quarter. NuWave Investment Management LLC purchased a new position in shares of State Street in the 4th quarter worth approximately $107,000. Legacy Advisors LLC grew its position in shares of 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 buying an additional 1,028 shares during the last quarter. Delpha Capital Management LLC purchased a new position in shares of State Street in the 4th quarter worth approximately $113,000. Finally, Focused Wealth Management Inc purchased a new position in shares of State Street in the 4th quarter worth approximately $117,000. Institutional investors and hedge funds own 89.15% of the company’s stock.
STT has been the topic of a number of analyst reports. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Thursday, January 25th. Morgan Stanley lifted their price objective on shares of State Street from $114.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Citigroup raised shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Wednesday, January 10th. Barclays lifted 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. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $107.00 price objective on shares of State Street in a research report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $108.33.
State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.10). The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. equities analysts expect that State Street Corp will post 7.68 earnings per share for the current year.
The firm also recently disclosed 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 of this dividend is Thursday, March 29th. State Street’s dividend payout ratio (DPR) is currently 32.12%.
In other news, EVP George E. Sullivan sold 3,495 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $103.07, for a total value of $360,229.65. Following the sale, the executive vice president now directly owns 58,340 shares of the company’s stock, valued at approximately $6,013,103.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph L. Hooley sold 33,568 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $102.65, for a total transaction of $3,445,755.20. The disclosure for this sale can be found here. Insiders sold a total of 49,531 shares of company stock worth $5,146,169 over the last ninety days. Insiders own 0.71% of the company’s stock.
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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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