State Street Corporation $STT Stake Lessened by Barclays PLC

Barclays PLC lessened its stake in State Street Corporation (NYSE:STT) by 45.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 857,828 shares of the asset manager’s stock after selling 718,504 shares during the period. Barclays PLC owned about 0.31% of State Street worth $110,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Chicago Partners Investment Group LLC increased its stake in shares of State Street by 1.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock worth $675,000 after buying an additional 83 shares during the last quarter. Wedmont Private Capital boosted its holdings in State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock worth $861,000 after purchasing an additional 85 shares during the period. Arjuna Capital boosted its holdings in State Street by 0.4% in the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock worth $3,243,000 after purchasing an additional 95 shares during the period. LVW Advisors LLC boosted its holdings in State Street by 1.7% in the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock worth $723,000 after purchasing an additional 96 shares during the period. Finally, Security National Bank of SO Dak boosted its holdings in State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after purchasing an additional 105 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

STT stock opened at $167.29 on Tuesday. The company has a market capitalization of $46.30 billion, a P/E ratio of 16.97, a PEG ratio of 0.92 and a beta of 1.43. The company has a 50-day simple moving average of $151.60 and a 200 day simple moving average of $135.93. State Street Corporation has a fifty-two week low of $96.16 and a fifty-two week high of $170.54. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.04 earnings per share. Sell-side analysts predict that State Street Corporation will post 12.35 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 annualized dividend and a yield of 2.0%. State Street’s payout ratio is 34.08%.

Insider Buying and Selling at State Street

In other State Street news, COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the sale, the chief operating officer directly owned 64,642 shares in the company, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the completion of the sale, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,876 shares of company stock valued at $5,866,583 in the last ninety days. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research reports. Citigroup lifted their price objective on shares of State Street from $150.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods upped their price target on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Wells Fargo & Company upped their price target on shares of State Street from $162.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.57.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.